GATINEAU, Que. – Hexo Corp. says the Nasdaq Stock Market LLC has informed the cannabis company that it is not in compliance with minimum bid price requirements.<\/p>\n
Gatineau, Que.-based Hexo became non-compliant with the requirement when its closing bid price for common shares listed on the Nasdaq dropped below US$1 for 30 consecutive trading days.<\/p>\n
The company's shares closed Friday at 50 cents US a share on the Nasdaq, down from a peak of about US$31 a share in April 2019.<\/p>\n
Hexo says the Nasdaq notification has no immediate effect on its listing, but gives the company until July 25 to have its shares close at or above US$1 per share for a minimum of 10 to become compliant again.<\/p>\n
If the shares don't close at or above US$1 by that date, the company may be eligible to receive another 180-day window to work toward compliance, but may also be subject to a delisting.<\/p>\n
Hexo, which also has a Toronto Stock Exchange listing, parted ways with co-founder Sebastien St-Louis last year and quickly embarked on a new strategic plan to reduce expenses by about 30 per cent by the end of fiscal 2023.<\/p>\n
This report by The Canadian Press was first published Jan. 31, 2022.<\/p>\n
Companies in this story: (TSX:HEXO)<\/p>\n
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GATINEAU, Que. – Hexo Corp. says the Nasdaq Stock Market LLC has informed the cannabis company that it is not in compliance with minimum bid price requirements. Gatineau, Que.-based Hexo became non-compliant with the requirement when its closing bid price for common shares listed on the Nasdaq dropped below US$1 for 30 consecutive trading days. […]<\/p>\n","protected":false},"author":362,"featured_media":1332,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"","published":"2022-01-31T09:01:49","updated":"2022-01-31T22:00:00","_infotelid":"IT88683","_prepressid":"88683","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/178\/hexo-receives-warning-from-nasdaq-after-non-compliance-with-bid-requirements\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Hexo receives warning from Nasdaq after non-compliance with bid requirements","url":"http:\/\/infonews.ca\/in420\/news\/178\/hexo-receives-warning-from-nasdaq-after-non-compliance-with-bid-requirements\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/178\/hexo-receives-warning-from-nasdaq-after-non-compliance-with-bid-requirements\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID88683-6163.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID88683-6163.jpg"},"articleSection":"iN420","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2022-01-31T17:01:49Z","datePublished":"2022-01-31T17:01:49Z","dateModified":"2022-02-01T06:00:00Z"},"rendered":"