HANGZHOU, China, Jan. 26, 2022 /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 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.
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
Investor Relations Contact:
Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
tina.xiao@ascent-ir.com
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SOURCE China Jo-Jo Drugstores,
Inc.