Village Farms International, which owns Canadian cannabis producer Pure Sunfarms, was granted a six-month extension by the Nasdaq stock exchange to regain compliance after its stock price fell below the exchange’s minimum-bid rule.
Village Farms was warned last April that its shares weren’t meeting the exchange’s listing standards.
The Nasdaq requires issuers to maintain a minimum bid price of at least $1 per share.
According to a news release, Village Farms now has until April 15, 2024, to regain compliance with the minimum-bid requirement, meaning the bid price for the company’s shares must close at or above $1 for a minimum of 10 consecutive trading days.
During the extension period, the common shares of Village Farms will continue to trade on the Nasdaq.
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