Cannabis operator Village Farms International has received a 180-day extension to regain compliance with the minimum closing bid price of $1 per share required to maintain its listing on the Nasdaq Capital Market.
The extension comes after the April 16 expiration of the initial 180-calendar-day period to regain minimum closing bid compliance, according to a company news release.
Shares of Village Farms trade on the Nasdaq Capital Market as VFF.
It’s not the first time Village Farms, which has offices in Vancouver, British Columbia, and Lake Mary, Florida, has been in this position.
In October 2023, the company also received an extension to regain compliance after getting a low-share-price warning the previous April.
Village Farms then regained compliance in April 2024.
The company said if its shares close at or above $1 per share for 10 consecutive business days, it expects to regain compliance with Nasdaq’s minimum-bid requirement.
If Village Farms doesn’t regain compliance with the minimum-bid requirement by Oct. 13, it could be delisted from the Nasdaq Capital Market.
If that happens, the company can request a review of the delisting determination by a Nasdaq hearings panel.
