(Gatineau) Hexo once again meets the minimum bid price requirements of the NASDAQ Stock Exchange, the cannabis producer said Friday.
The Gatineau company lost this compliance when the bid price for its common stock on the NASDAQ closed below US$1 for 30 consecutive sessions.
Hexo said it received a notice from NASDAQ on Jan. 19 saying it had regained compliance after its stock showed a closing bid price above US$1 for at least 10 consecutive business days.
Hexo’s stock closed Thursday at US$1.49 on the NASDAQ.
Hexo CEO Charlie Bowman said the market is beginning to recognize the progress the company has made over the past year, which aims to position it “on the path to long-term success.”
According to him, Hexo has remained focused on readjusting for profitable growth and remains committed “to delivering a premium cannabis experience.”
Hexo is also listed on the Toronto Stock Exchange, and that listing’s compliance is not affected by the re-establishment of NASDAQ listing compliance.