Leading Brands Receives Nasdaq Notice of Non-compliance; Will Submit Compliance Plan & Request Extension
January 24 2018 - 8:30AM
Leading Brands, Inc. (Nasdaq:LBIX) (the
“Company”) today announced that on January 23, 2018, the Company
received notice from the Nasdaq Listing Qualifications Staff (the
“Staff”) indicating that, based upon the Company’s non-compliance
with the minimum $2.5 million stockholders’ equity requirement for
continued listing on The Nasdaq Capital Market (the “Rule”) as of
November 30, 2017, the Company has been granted a 45-day period,
through March 9, 2018, to submit its plan to regain compliance with
the Rule. The Company intends to timely submit its compliance plan
for the Staff’s review, which, if accepted by the Staff, could
result in a maximum 180-day extension, through July 23, 2018, to
evidence compliance with the Rule. The notice has no present impact
on the listing of the Company’s securities on Nasdaq.
Forward Looking StatementsCertain information contained in this
press release includes forward-looking statements. Words such
as “believe”, “expect,” “will,” or comparable terms, are intended
to identify forward-looking statements concerning the Company’s
expectations, beliefs, intentions, plans, objectives, future events
or performance and other developments. All forward-looking
statements included in this press release are based on information
available to the Company on the date hereof. Such statements
speak only as of the date hereof. Important factors that
could cause actual results to differ materially from the Company’s
estimations and projections are disclosed in the Company’s
securities filings and include, but are not limited to, the
following: general economic conditions, weather conditions,
changing beverage consumption trends, pricing, availability of raw
materials, economic uncertainties (including currency exchange
rates), government regulation, managing and maintaining growth, the
effect of adverse publicity, litigation, competition and other risk
factors described from time to time in securities reports filed by
Leading Brands, Inc. For all such forward-looking statements, we
claim the safe harbor for forward looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995.
This news release is available at
www.LBIX.com
CONTACT:
Leading Brands, Inc.
Email: info@LBIX.com;
orrmcrae@lbix.com
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