CHANGSHA, China, Nov. 15,
2023 /PRNewswire/ -- Bit Brother Limited ("Bit
Brother, " "We" or the "Company")
(NASDAQ: BETS), today announced that
it has received a notice (the "Notice") from the NASDAQ Stock
Market ("Nasdaq") notifying the Company that the Nasdaq Staff
("Staff") had determined to delist the Company's securities from
Nasdaq based upon the Company's non-compliance with Nasdaq Listing
Rule 5550(a)(2) and 5810(c)(3)(A)(iii), as the Company's securities
had a closing bid price of $0.10 or less for 11 consecutive trading
days from October 26 through November 9, 2023. The notice has
no immediate impact on the Company's listing and trading, as the
Company intends to request a hearing before the Panel by November
17, 2023. Such request will stay any suspension or delisting action
by Nasdaq pending the completion of the hearing process There can
be no assurance that the Panel will grant the Company's request for
additional time to demonstrate compliance of continued listing
requirement or that the Company will be able meet the continued
listing requirement during any compliance period or in the future.
If the Panel does not grant the Company's request for additional
time, its ordinary shares will be subject to delisting and the
liquidity and marketability of the Company's ordinary shares would
be adversely affected.
This announcement is made in compliance with Nasdaq
Listing Rule 5810(b), which requires prompt disclosure of receipt
of a delisting notification.
About Bit Brother Limited
Bit Brother Ltd is a multifaceted corporation with operations
spanning business management in China and blockchain
and cryptocurrency ventures in the United States. Within the U.S.
jurisdiction, the company strategically manages and integrates
cryptocurrency mining facilities. With a dedicated
team of specialists, company has successfully expanded two mining
ventures and is committed to further growth. For more information,
please visit: www.bitbrother.com.
Forward-Looking Statements Disclaimer
This press release contains certain statements that may include
"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including the risk factors discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these risk factors. Other than as required under the
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
View original
content:https://www.prnewswire.com/news-releases/bit-brother-limited-received-nasdaq-delisting-letter-regarding-bid-price-deficiency-301989426.html
SOURCE Bit Brother Limited