Aurora Cannabis Provides Update on Nasdaq Listing

  • Investing.com
Aurora Cannabis Provides Update on Nasdaq Listing
Aurora Cannabis Inc.

(NASDAQ: ACB ) today announced receipt of a notification letter (the "Notification Letter") from The Nasdaq Stock Market LLC ("Nasdaq") dated March 24, 2023, advising that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) as the bid price of the Company's listed securities had closed at less than US$1.00 per share over the last 30 consecutive business days (the "Minimum Bid Price Requirement") from February 8, 2023 to March 23, 2023.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has until September 20, 2023, being 180 calendar days from the date of the Notification Letter (the "Compliance Period"), to regain compliance with the Minimum Bid Price Requirement.

If at any time before the expiration of the Compliance Period the bid price of the Company's common shares (the "Shares") closes at or above US$1.00 per share for a minimum of ten consecutive business days, Nasdaq would be expected to provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement, subject to Nasdaq's discretion to extend such ten business day period in certain circumstances.

The Nasdaq Notification Letter does not affect day-to-day trading and does not result in the delisting of the Company's Shares. Aurora's Shares are also listed on the Toronto Stock Exchange, and the Notification Letter does not affect the Company's compliance status with the Toronto Stock Exchange listing.

The Company intends to continue actively monitoring the bid price for its Shares between now and the expiration of the Compliance Period and will consider all available options to resolve the deficiency with every intention to regain compliance with the Minimum Bid Price Requirement.

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