Benzinga | Jan 26, 2022 08:08AM EST

China Jo-Jo Drugstores Granted Extension To Meet Nasdaq Minimum Bid Price Requirement

China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that on January 25, 2022, the Company received another 180 calendar day extension from Nasdaq's Listing Qualifications Department to meet Nasdaq's continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum of 10 consecutive trading days. The Company now has until July 25, 2022 to regain compliance.

If at any time before July 25, 2022, the bid price of the Company's ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules, and the matter will be closed.

The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A) on July 26, 2021, and was given until January 24, 2022 to regain compliance.