Brüush Receives Nasdaq Notification Regarding Minimum Bid Requirements

Rhea-AI Summary

Bruush Oral Care Inc. (NASDAQ:BRSH) has received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's common shares traded below $1.00 per share for 30 consecutive business days, triggering the notice. Bruush has 180 days to regain compliance, with an option for an additional 180-day grace period. If the share price reaches at least $1.00 for ten consecutive days during the compliance period, Nasdaq will confirm compliance.

VANCOUVER, BC / ACCESSWIRE / November 17, 2023 / Bruush Oral Care Inc. (NASDAQ:BRSH) (the "Company"), today announced that it has received a notice from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") on November 15, 2023 notifying the Company that the Company is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") because the closing bid price of the Company's common shares was below $1.00 per share for a period of 30 consecutive business days. The notification has no immediate effect on the listing of the Company's common shares, which will continue to trade uninterrupted on Nasdaq under the ticker "BRSH."

The Company has a compliance period of 180 calendar days, or until May 13, 2024 (the "Compliance Period"), to regain compliance with the Minimum Bid Price Requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's common shares is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

In the event the Company does not regain compliance with the Minimum Bid Price Requirement by May 13, 2024, the Company may be eligible for an additional 180-calendar-day grace period. The Company intends to monitor the closing bid price of the common shares and consider its available options to resolve the noncompliance with the Minimum Bid Price Requirement.

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

Follow Brüush on LinkedIn: Bruush

Follow Brüush on Instagram: @bruush

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.

Investor Relations Contact:

Colette Eymontt
colette@tradigitalir.com

SOURCE: Bruush Oral Care Inc.

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FAQ

What is the notice received by Bruush Oral Care Inc. from Nasdaq?

Bruush Oral Care Inc. received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement.

What is the compliance period given to Bruush Oral Care Inc.?

Bruush Oral Care Inc. has a compliance period of 180 calendar days to regain compliance with the minimum bid price requirement, with an option for an additional 180-day grace period.

What happens if the share price reaches at least $1.00 for ten consecutive days during the compliance period?

If the share price reaches at least $1.00 for ten consecutive days during the compliance period, Nasdaq will confirm compliance.

What options does Bruush Oral Care Inc. have to resolve the noncompliance with the Minimum Bid Price Requirement?

Bruush Oral Care Inc. intends to monitor the closing bid price of the common shares and consider its available options to resolve the noncompliance with the Minimum Bid Price Requirement.