Brüush Receives Additional Delisting Notification to Address at Hearing

Rhea-AI Summary

Brüush, a company listed on NASDAQ under the ticker symbol BRSH, received a delisting notification from Nasdaq due to non-compliance with audit committee requirements. The company must address this issue at a hearing scheduled for April 25, 2024. This comes after a board member's resignation caused the company to fall out of compliance last year. Brüush has submitted a plan to regain compliance, but the final decision rests with the Panel.

Positive

• None.

Negative

• Brüush is facing potential delisting from Nasdaq due to non-compliance with audit committee requirements, which could negatively impact investor confidence and liquidity in the stock.

VANCOUVER, BC / ACCESSWIRE / April 19, 2024 / Bruush Oral Care Inc. (NASDAQ:BRSH) (the "Company"), today announced that it received a notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market, LLC ("Nasdaq") on April 15, 2024 notifying the Company that because it is not compliant with Nasdaq's audit committee requirements as set forth in Listing Rule 5605 (the "Audit Committee Requirements"), this deficiency serves as an additional basis for delisting the Company's securities from Nasdaq. This deficiency will be considered by the Hearings Panel (the "Panel") at a hearing that has been scheduled for April 25, 2024 (the "Hearing") to address the Company's other current deficiencies.

As previously reported on May 8, 2023, due to the resignation of one of the Company's board members from its Board of Directors and therefore its Audit Committee on April 12, 2023, the Company no longer complied with the Audit Committee Requirements. Pursuant to Listing Rule 5605(c)(4), Nasdaq provided the Company a cure period to regain compliance with the Audit Committee Requirements, which ended on April 12, 2024.

The Notice stated that Panel will consider this matter in rendering a determination regarding the Company's continued listing on the Nasdaq and the Company should present its views with respect to this additional deficiency to the Panel at the Hearing. On April 5, 2024, the Company submitted to the Panel a plan to regain compliance with all applicable rules for continued listing. There can be no assurance as to the decision of the Panel.

About Bruush Oral Care Inc.

Bruush Oral Care Inc. is on a mission to inspire confidence through brighter smiles and better oral health. Founded in 2018, Brüush is an oral care company that is disrupting the space by reducing the barriers between consumers and access to premium oral care products. The Company is an e-commerce business with a product portfolio that currently consists of a sonic-powered electric toothbrush kit and brush head refills. Brüush has developed a product to make upgrading to an electric brush appealing with three core priorities in mind: (i) a high-quality electric toothbrush at a more affordable price than a comparable electric toothbrush from the competition; (ii) a sleek, countertop-friendly design; and (iii) a convenient brush head refill subscription program that eliminates the frustrating experience of purchasing replacement brush heads at the grocery/drug store. The Company is rooted in building a brand that creates relevant experiences and content, with the goal of becoming the go-to oral care brand for millennials and Generation Z.

For more information on Brüush visit: https://bruush.com

Safe Harbor Forward-Looking Statements

This press release of Bruush Oral Care Inc. contains "forward-looking statements". Words such as "may", "will", "could", "should", "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" and other comparable terminology are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses its vision, its strategy, and its products. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there could be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking statements except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statement, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.

Contact: support@bruush.com

SOURCE: Bruush Oral Care Inc.

View the original press release on accesswire.com

FAQ

Why did Brüush receive a delisting notification?

Brüush received a delisting notification from Nasdaq due to non-compliance with audit committee requirements.

When is the hearing scheduled for Brüush's delisting notification?

The hearing to address Brüush's delisting notification is scheduled for April 25, 2024.

What led to Brüush's non-compliance with audit committee requirements?

Brüush fell out of compliance with audit committee requirements due to a board member's resignation last year.

Has Brüush submitted a plan to regain compliance?

Yes, Brüush submitted a plan to regain compliance with all applicable rules for continued listing.

What is the ticker symbol for Brüush on NASDAQ?

Brüush is listed on NASDAQ under the ticker symbol BRSH.