SHANGHAI, Aug. 16, 2019 /PRNewswire/ -- JMU Limited (the
"Company" or "JMU") (Nasdaq:
JMU) today announced that it has
received a notification letter from Nasdaq dated August 14, 2019 indicating that based on the
staff's review of the Company's Market Value of Publicly Held
Shares ("MVPHS") from July 2, 2019 to
August 13, 2019, the Company no
longer meets the continued listing requirement set forth in the
Nasdaq Listing Rule 5450(b)(1)(C) of maintaining a minimum MVPHS of
US$5,000,000 for the Nasdaq Global Market.
The Company has 180 calendar days to regain compliance with the
MVPHS requirement. If at any time prior to February 10, 2020, the expiration of the 180-day
period, the Company meets the MVPHS requirement for a minimum of 10
consecutive business days, the Company will regain compliance
unless the staff exercises its discretion to extend this 10-day
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"aim," "anticipate," "believe," "estimate," "expect," "hope,"
"going forward," "intend," "ought to," "plan," "project,"
"potential, " "seek," "may," "might," "can," "could," "will,"
"would," "shall," "should," "is likely to" and the negative form of
these words and other similar expressions. Among other things,
statements that are not historical facts, including statements
about JMU's beliefs and expectations
are or contain forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement. All information
provided in this press release is as of the date of this press
release and is based on assumptions that JMU believes to be reasonable as of this date, and
JMU does not undertake any obligation
to update any forward-looking statement, except as required under
Tel: +86 (021) 6015-1166, ext. 8904
SOURCE JMU Ltd