Brüush
Announces Notice from Nasdaq for Continued Listing
VANCOUVER, BC / October
5, 2023 / InvestorsHub NewsWire - Bruush Oral Care Inc. (NASDAQ:
BRSH) (the
"Company"), today
announced that it has received a notice from the Listing
Qualifications Department of The Nasdaq Stock Market ("Nasdaq") on
October 2, 2023 that is has been granted an exception for continued
listing on the Nasdaq.
As
previously disclosed, the Company received a letter from the Nasdaq
earlier this year notifying the Company that based on the Company's
stockholders' equity as reported in the Company's Annual Report on
Form 20-F for its fiscal year ended October 31, 2022 filed with the
Securities and Exchange Commission on March 10, 2023, the Company
did not meet the minimum stockholders' equity requirement ("Minimum
Stockholders' Equity Requirement"), or the alternatives of market
value of listed securities or net income from continuing operations
for continued listing on the Nasdaq Capital Market under Nasdaq
Listing Rule 5550(b)(1) (the "Rule").
On
September 21, 2023, the Company attended a hearing before the
Nasdaq Hearings Panel (the "Panel") for the Panel to consider the
Company's plan to regain compliance with the Minimum Stockholders'
Equity Requirement.
On
October 2, 2023, the Company received notice from the Nasdaq
notifying the Company that the Panel has granted an exception to
the Company for continued listing on the Nasdaq, subject to the
Company demonstrating compliance with the Rule on or before
December 31, 2023. On the same day, the Company announced a private
placement for approximately $5.0 million, before deducting fees to
the placement agent and other offering expenses payable by the
Company, which strengthens the Company's balance sheet and
increases its stockholders' equity.
About Bruush Oral Care Inc.
Bruush
Oral Care Inc. is on a mission to inspire confidence through
brighter smiles and better oral health. Founded in 2018, Brüush is
an oral care company that is disrupting the space by reducing the
barriers between consumers and access to premium oral care
products. The Company is an e-commerce business with a product
portfolio that currently consists of a sonic-powered electric
toothbrush kit and brush head refills. Brüush has developed a
product to make upgrading to an electric brush appealing with three
core priorities in mind: (i) a high-quality electric toothbrush at
a more affordable price than a comparable electric toothbrush from
the competition; (ii) a sleek, countertop-friendly design; and
(iii) a convenient brush head refill subscription program that
eliminates the frustrating experience of purchasing replacement
brush heads at the grocery/drug store. The Company is rooted in
building a brand that creates relevant experiences and content,
with the goal of becoming the go-to oral care brand for millennials
and Generation Z.
For more information on Brüush
visit: https://bruush.com
Follow Brüush on
LinkedIn: Bruush
Follow Brüush on
Instagram: @bruush
Safe Harbor
Forward-Looking Statements
This
press release of Bruush Oral Care Inc. contains "forward-looking
statements". Words such as "may", "will", "could", "should",
"expects", "anticipates", "intends", "plans", "believes", "seeks",
"estimates" and other comparable terminology are intended to
identify forward-looking statements. For example, the Company is
using forward-looking statements when it discusses its vision, its
strategy, and its products. Forward-looking statements are not
historical facts, and are based upon management's current
expectations, beliefs and projections, many of which, by their
nature are inherently uncertain. Such expectations, beliefs and
projections are expressed in good faith. However, there could be no
assurance that management's expectations, beliefs and projections
will be achieved, and actual results may differ materially from
what is expressed or indicated by the forward-looking statements.
Forward-looking statements are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in the forward-looking statements.
Forward-looking statements speak only as of the date the statements
are made. The Company assumes no obligation to update
forward-looking statements to reflect actual results, subsequent
events or circumstances, changes in assumptions or changes in other
factors affecting forward-looking statements except to the extent
required by applicable securities laws. If the Company does update
one or more forward-looking statement, no inference should be drawn
that the Company will make additional updates with respect thereto
or with respect to other forward-looking statements.
Investor Relations
Contact:
Colette Eymontt
colette@tradigitalir.com