Nasdaq Grants Guardion Health Sciences an Extension to March 15, 2021 to Regain Compliance with the $1.00 Minimum Bid Price R...
January 27 2021 - 08:30AM
Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the
“Company”), a specialty health sciences company that develops
clinically supported nutrition, medical foods, nutraceuticals and
medical devices, with a focus in the ocular health marketplace,
announced that it has received a letter from Nasdaq granting it an
exception until March 15, 2021 to evidence compliance with Nasdaq’s
$1.00 Minimum Bid Price Rule.
President and Chief Executive Officer Bret
Scholtes remarked, “We are pleased that the Nasdaq Hearings Panel
granted the Company’s request to extend our opportunity to regain
compliance with respect to Nasdaq’s $1.00 Minimum Bid Price Rule.
We are encouraged by the recent increase in the Company’s share
price, and we hope to be in a position in the near-term to be able
to announce further progress in our business plans and strategies
that could provide additional momentum to the trading price of the
Company’s shares prior to March 15, 2021. If the Company’s share
price does not reach the minimum closing bid price of $1.00 per
share for a minimum of 10 consecutive trading days as required to
regain compliance with Nasdaq rules, the Company will effect an
appropriate reverse stock split, which was previously approved by
the Company’s shareholders, in order to regain compliance on or
before March 15, 2021. Under the Nasdaq Listing Rules, the Hearings
Panel may monitor the bid price for up to 20 trading days before
making its final compliance determination.”
About Guardion Health
Sciences
Guardion is a specialty health sciences company
that develops clinically supported nutrition, medical foods and
medical devices, with a focus in the ocular health marketplace.
Located in San Diego, California, the Company combines targeted
nutrition with innovative, evidence-based diagnostic technology.
Guardion boasts impressive Scientific and Medical Advisory Boards.
Information and risk factors with respect to Guardion and its
business, including its ability to successfully develop and
commercialize its proprietary products and technologies, may be
obtained in the Company’s filings with the U.S. Securities and
Exchange Commission (the “SEC”) at www.sec.gov.
Forward-Looking Statement
Disclaimer
With the exception of the historical information
contained in this news release, the matters described herein may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing. These statements involve unknown risks and uncertainties
that may individually or materially impact the matters discussed
herein for a variety of reasons that are outside the control of the
Company, including, but are not limited to, the Company’s ability
to raise sufficient financing to implement its business plan, the
integration of a new management team, the impact of the COVID-19
pandemic on the Company’s business, operations and the economy in
general, the Company’s ability to successfully develop and
commercialize its proprietary products and technologies, and the
Company’s ability to maintain compliance with Nasdaq’s listing
requirements. Readers are cautioned not to place undue reliance on
these forward-looking statements, as actual results could differ
materially from those described in the forward-looking statements
contained herein. Readers are urged to read the risk factors set
forth in the Company’s filings with the SEC, which are available at
the SEC’s website (www.sec.gov). The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:CORE
IRScott Arnold516-222-2560scotta@coreir.com
Media Relations Contact:Jules
AbrahamDirector of Public RelationsCORE
IR917-885-7378julesa@coreir.com
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