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Organigram notified by Nasdaq for failing minimum trading amount

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Organigram Holdings Inc. was notified by Nasdaq that it will have until next July to reach the minimum trading value in that market. The company, which traded for 30 days below a dollar, will have until October to bring its shares down to the minimum trading levels that the Nasdaq listing requires.

Canadian company OrganiGram Holdings Inc., listed on Nasdaq and the Toronto Stock Exchange (NASDAQ:OGI; TSE:OGI), announced on Thursday that it had received notice from Nasdaq that it may not be in compliance with the pricing requirement. minimum bid to remain listed. At issue is the trading value of the company's shares, which were worth less than a dollar for 30 consecutive trading days.

Organigram will now have until the 24th of July to raise the trading value of the shares. In order for the company not to be at risk of non-compliance, it must be traded at at least one dollar in nominal value for 10 consecutive days. Should the company fail and fail to restore the value of its shares by July, Organigram may be eligible for an additional period of 180 calendar days to regain compliance. Otherwise, it may be subject to deletion.

 

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[Disclaimer: Please note that this text was originally written in Portuguese and is translated into English and other languages ​​using an automatic translator. Some words may differ from the original and typos or errors may occur in other languages.]

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