Canadian cannabis producer Sundial Growers has been given a 180-day reprieve to regain compliance with the Nasdaq market’s minimum bid-price requirement.
The Calgary, Alberta-based company was notified Aug. 9 it was offside Nasdaq’s continued listing standards and was given until Feb. 7 to regain compliance.
The extension gives the company until Aug. 8 to regain compliance.
That means the price for its common shares must close at or above $1 (1.27 Canadian dollars) for a minimum of 10 consecutive trading days.
Maintaining a minimum bid price of at least $1 per share is one of the Nasdaq’s listing requirements.
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Toronto-based Cronos Group (CRON) is currently listed on the noncompliant companies list over a regulatory filing issue.
The company was notified in November.