HANGZHOU, China, Dec. 23, 2020 /PRNewswire/ -- 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 it has received
notification from the Listing Qualifications Department of The
Nasdaq Stock Market ("Nasdaq") that it has regained compliance with
Nasdaq Listing Rule 5550(a)(2), which concerns minimum bid price
listing requirements.
As previously disclosed, on October 16,
2020, Nasdaq notified the Company that its common stock had
failed to maintain a minimum bid price of $1.00 over 30 consecutive business days as
required by the Nasdaq Listing Rules.
On December 17, 2020, Nasdaq
provided confirmation to the Company that for the last 20
consecutive business days, from November 18
to December 14, 2020, the closing bid price of the Company's
common stock had been at $1.00 per
share or greater. Accordingly, the Company has regained compliance
with Listing Rule 5550(a)(2).
About China Jo-Jo Drugstores,
Inc.
China Jo-Jo Drugstores, Inc. ("Jo-Jo Drugstores" or the
"Company"), is a leading online and offline retailer and wholesale
distributor of pharmaceutical and other healthcare products and a
provider of healthcare services in China. Jo-Jo Drugstores currently operates an
online pharmacy and retail drugstores with licensed doctors on site
for consultation, examination and treatment of common ailments at
scheduled hours. It is also a wholesale distributor of products
similar to those carried in its pharmacies. For more information
about the Company, please visit http://jiuzhou360.com. The
Company routinely posts important information on its website.
Forward-Looking Statements
This press release contains information about the Company's
view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may
differ materially from historical results or those indicated by
these forward-looking statements as a result of a variety of
factors including, but not limited to, risks and uncertainties
associated with its ability to raise additional funding, its
ability to maintain and grow its business, variability of operating
results, its ability to maintain and enhance its brand, its
development and introduction of new products and services, the
successful integration of acquired companies, technologies and
assets into its portfolio of products and services, marketing and
other business development initiatives, competition in the
industry, general government regulation, economic conditions,
dependence on key personnel, the ability to attract, hire and
retain personnel who possess the technical skills and experience
necessary to meet the requirements of its clients, and its ability
to protect its intellectual property. The Company's encourages
you to review other factors that may affect its future results in
the Company's annual reports and in its other filings with the
Securities and Exchange Commission.
For more information, please contact:
Company Contact:
Frank Zhao
Chief Financial Officer
+86-571-88077108
frank.zhao@jojodrugstores.com
Steve Liu
Investor Relations Director
steve.liu@jojodrugstores.com
Investor Relations Contact:
Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
tina.xiao@ascent-ir.com
View original
content:http://www.prnewswire.com/news-releases/china-jo-jo-drugstores-regains-compliance-with-nasdaq-minimum-bid-price-requirement-301198002.html
SOURCE China Jo-Jo Drugstores,
Inc.
