Aqua Metals Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

Aqua Metals (NASDAQ: AQMS) announced on January 17, 2023, that it has regained compliance with Nasdaq's Listing Rule 5550(a)(2), following a previous notification on August 2, 2022, regarding its stock price falling below $1.00 per share. The company successfully maintained a closing bid price of at least $1.00 for 10 consecutive trading days, achieving compliance on January 13, 2023. Aqua Metals is focused on sustainable recycling through its AquaRefining™ technology, which aims to transform metals recycling, particularly for materials used in electric vehicles and energy storage.

Positive

• Regained compliance with Nasdaq's Listing Rule 5550(a)(2)
• Maintained stock price above $1.00 for 10 consecutive trading days
• Innovative AquaRefining™ technology aimed at sustainable recycling
• Focus on strategic materials for energy storage and electric vehicle manufacturing

Negative

• None.

RENO, Nev., Jan. 17, 2023 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals" or the “Company”), which is reinventing metals recycling with its AquaRefining™ technology, announced that today it received notice from the Nasdaq Stock Market, LLC (“Nasdaq”) that it has regained compliance with Listing Rule 5550(a)(2).

The Company was previously notified by Nasdaq on August 2, 2022, that it had fallen below compliance with respect to the continued listing standard set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules because the closing price of the Company’s common stock over the previous 30 consecutive trading-day periods had fallen below $1.00 per share. To regain compliance, the Company had 180 days from the notice date for the common stock to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on January 13, 2023.

About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The company is pioneering a sustainable recycling solution for materials strategic to energy storage and electric vehicle manufacturing supply chains. AquaRefining™ is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and minimal waste. Aqua Metals is based in Reno, NV and operates the first sustainable lithium battery recycling facility at the company’s Innovation Center in the Tahoe-Reno Industrial Center.

To learn more, please visit www.aquametals.com

Aqua Metals Social Media
Aqua Metals has used, and intends to continue using, its investor relations website (https://ir.aquametals.com), in addition to its Twitter, LinkedIn and YouTube accounts at https://twitter.com/AquaMetalsInc (@AquaMetalsInc), https://www.linkedin.com/company/aqua-metals-limited and https://www.youtube.com/channel/UCvxKNWcB69K0t7e337uQ8nQ respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Safe Harbor
This press release contains forward-looking statements concerning Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements that contain words such as "expects," "contemplates," "anticipates," "plans," "intends," "believes", "estimates", "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. The forward-looking statements in this press release include our expectations for our pilot recycling plant, our ability to recycle lithium-ion batteries and the expected benefits of recycling lithium-ion batteries. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially. Among those factors are: (1) the risk that our pilot recycling plant may not successfully recycle spent lithium batteries, (2) the risk that we may not derive the expected economic benefits from our pilot recycling plant; (3) the risk that licensees may refuse or be slow to adopt our AquaRefining process as an alternative to smelting in spite of the perceived benefits of AquaRefining; (4) the risk that we may not realize the expected economic benefits from any licenses we may enter into; (5) the risk that we may not be able to access additional capital, through the sale of our TRIC facilities and equipment or otherwise, as and when needed and (6) those other risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed on February 24, 2022. Aqua Metals cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by law.

Contact Information:

Investor Relations
Contact: Robert Meyers, FNK IR
646-878-9204
aqms@fnkir.com

Media
Contact: Ariane Wolff, Warner Communications
978-729-3542
ariane@warnerpr.com

Source: Aqua Metals

FAQ

What is the recent compliance status of Aqua Metals (AQMS) with Nasdaq?

Aqua Metals has regained compliance with Nasdaq's Listing Rule 5550(a)(2) as of January 17, 2023.

When did Aqua Metals (AQMS) achieve compliance with Nasdaq requirements?

Aqua Metals achieved compliance on January 13, 2023, by maintaining a closing bid price above $1.00 for 10 consecutive trading days.

What does Aqua Metals (AQMS) specialize in?

Aqua Metals specializes in sustainable metals recycling using its AquaRefining™ technology.

Why was Aqua Metals (AQMS) previously notified by Nasdaq?

Aqua Metals was notified by Nasdaq on August 2, 2022, for falling below the compliance with the minimum bid price of $1.00 per share.