BEIJING, Nov. 19, 2018 /PRNewswire/ -- China Advanced
Construction Materials Group, Inc. (NASDAQ CM: CADC) (the
"Company" or "China AMC"), a construction company engaging
in the production of advanced construction materials for large
scale infrastructure, commercial and residential developments,
today said it has received a notice ("Notice") from the NASDAQ
Stock Market notifying the Company that, because its Form 10-Q for
the period ended September 30, 2018
was not filed with the Securities and Exchange Commission by the
required due date of November14, 2018, and the Company remains
delinquent in filing its Form 10-K for the year ended June 30, 2018 (the "2018 10-K"), the Company is
therefore not in compliance with the periodic filing requirements
for continued listing set forth in NASDAQ Listing Rule
5250(c)(1).
This Notice received has no immediate effect on the listing or
trading of the Company's shares.
As previously announced, in accordance with NASDAQ's notice
dated October 15, 2018, the Company
had until November 14, 2018 to submit
a plan to regain compliance with respect to these delinquent 2018
10-K. Following the Company's request, NASDAQ has extended that due
date until November 16, 2018. The
Company submitted its plan to regain compliance to NASDAQ on
November 16, 2018.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
About China Advanced
Construction Materials Group, Inc.
China ACM is a producer of advanced, certified eco-friendly
ready-mix concrete (RMC) and provider of related technical services
for large scale, and other complex infrastructure projects.
Leveraging its proprietary technology and value-add engineering
services model, the Company has won work on many high profile
projects including the 30,000 km China HSR expansion, the Olympic
Stadium Bird's Nest, Beijing South Railway Station, Beijing International Airport, National Centre
for Performing Arts, CCTV Headquarters, Beijing Yintai Building and
U.S. and French embassies in China.
Forward-Looking Statements
This press release contains forward-looking statements,
including but not limited to statements that concern the company's
ability to comply with Nasdaq Listing Rules and the continued
listing of the Company's shares on Nasdaq. These forward-looking
statements are not historical facts, and instead are based on our
current expectations, estimates, opinions, and beliefs.
Consequently, you should not rely on these forward-looking
statements. The accuracy of such forward-looking statements depends
upon future events, and involves risks, uncertainties, and other
factors beyond our control that may cause these statements to be
inaccurate and cause our actual results, performance, or
achievements to differ materially and adversely from those
anticipated or implied by such statements, including, among others:
the risk that the completion and filing of the periodical reports
will take longer than expected or may not be completed at all; the
risk that the company will be unable to submit a plan to regain
compliance to Nasdaq before the due date or that any such plan may
not be accepted by Nasdaq; the risk that the company will be unable
to comply with the listing standards for the Nasdaq market; and the
risks more fully described in "Item 1A. Risk Factors" in
China ACM's Annual Report on Form
10-K for the fiscal year ended June 30,
2017. China ACM does not assume any obligation to update or
revise any such forward-looking statements, whether as the result
of new developments or otherwise.
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SOURCE China Advanced Construction Materials Group, Inc.