LAVAL,
QC, March 2, 2022 /CNW Telbec/ - Neptune
Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT)
(TSX: NEPT), a diversified and fully integrated health and wellness
company focused on plant-based, sustainable and purpose-driven
lifestyle brands, today announced that on March 1, 2022, the Company received a 180
calendar day extension from Nasdaq's Listing Qualification
Department to meet Nasdaq's minimum bid requirement. The Company
now has until August 29, 2022 to
maintain a minimum bid of $1.00 per
share for at least 10 consecutive trading days.
This current notification from Nasdaq has no immediate effect on
the listing or trading of the Company's common stock, which will
continue to trade on the Nasdaq Capital Market under the symbol
"NEPT."
If at any time until August 29,
2022, the bid price of the Company's common stock closes at
or above $1.00 per share for a
minimum of 10 consecutive trading days, the Company will regain
compliance with the Rule, and the matter will be closed.
The Company was first notified by Nasdaq of its failure to
maintain a minimum bid price of $1.00
per share for 30 consecutive trading days under Nasdaq Listing
Rules 5550(a)(2) and 5810(c)(3)(A) on August 30, 2021.
About Neptune Wellness Solutions Inc.
Headquartered in Laval, Quebec,
Neptune is a diversified health and wellness company with a mission
to redefine health and wellness. Neptune is focused on building a
portfolio of high quality, affordable consumer products in response
to long-term secular trends and market demand for natural,
plant-based, sustainable and purpose-driven lifestyle brands. The
Company utilizes a highly flexible, cost-efficient manufacturing
and supply chain infrastructure that can be scaled to quickly adapt
to consumer demand and bring new products to market through its
mass retail partners and e-commerce channels. For additional
information, please visit: https://neptunewellness.com/.
Disclaimer – Safe Harbor Forward–Looking Statements
Forward-looking statements contained in this press release
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance and achievements of
Neptune Wellness Solutions to be materially different from any
future results, performance or achievements expressed or implied by
the said forward-looking statements.
Neither NASDAQ nor the Toronto Stock Exchange accepts
responsibility for the adequacy or accuracy of this
release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/neptune-granted-180-day-extension-to-meet-nasdaq-minimum-bid-requirement-301493527.html
SOURCE Neptune Wellness Solutions Inc.