CHINA GREEN AGRICULTURE ANNOUNCES RECEIPT OF NYSE CURE LETTER

Rhea-AI Summary

China Green Agriculture, Inc. (NYSE: CGA) announced that it has regained compliance with the New York Stock Exchange (NYSE) listing standards, resolving a deficiency highlighted in a previous notification. This development resulted in the removal of the Below Compliance (BC) indicator from the Company's profile, data, and news pages, signifying a positive outcome for the Company's corporate governance.

XI’AN, CHINA, Nov. 13, 2023 (GLOBE NEWSWIRE) -- China Green Agriculture, Inc. (NYSE: CGA) (“China Green Agriculture” or the “Company”) announced today that, on November 9, 2023 the Company received a notice letter from the New York Stock Exchange (“NYSE”) stating that the Company is back in compliance with the NYSE continued listing standards set forth in Section 302 of the NYSE Company Guide. The NYSE’s letter comes after the Company held an annual meeting for the fiscal years ended June 30, 2022, and June 30, 2021, resolving the deficiency set forth in NYSE’s July 12, 2023 notification letter.

As a result, on November 10, 2023, the Below Compliance (“BC”) indicator had ceased to be disseminated for the Company. The Company will then be removed from the list of issuers noncompliant with NYSE corporate governance listing standards posted on https://www.nyse.com/regulation/noncompliant-issuers and the BC indicator will be removed from the profile, data and news pages of the Company’s security.

About China Green Agriculture, Inc

The Company produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries, i.e.: Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (“Jinong”), Beijing Gufeng Chemical Products Co., Ltd (“Gufeng”) and variable interest entities. In 2023, the Company started to purchase digital asset mining machines and established Antaeus Tech Inc. (“Antaeus”) in the State of Delaware and mined digital assets bitcoins in the State of Texas. For more information, visit http://www.cgagri.com. The Company routinely posts important information on its website.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the Company’s business, products and financial results. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions; development, shipment, market acceptance, additional competition from existing and new competitors; interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); technological advances, new products attained by competitors; challenges inherent in new product development; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of economies and sovereign risk; dependence on the effectiveness of the company’s protections for innovative products; the exposure to litigation and/or regulatory actions, and various other factors beyond the Company’s control.

All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risk factors detailed in the Company’s reports filed with the SEC. China Green Agriculture undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release, except as required by applicable law or regulations.    

For more information, please contact:

China Green Agriculture, Inc.
Tel: +86-29-88266383
Email: info@cgagri.com

FAQ

What did China Green Agriculture, Inc. announce regarding NYSE compliance?

China Green Agriculture, Inc. announced that it has regained compliance with the New York Stock Exchange (NYSE) listing standards.

When did the Company receive the notice letter from NYSE?

The Company received the notice letter from the New York Stock Exchange (NYSE) on November 9, 2023.

What was the deficiency mentioned in NYSE's July 12, 2023 notification letter?

The deficiency mentioned in NYSE's July 12, 2023 notification letter was related to the Company's noncompliance with NYSE corporate governance listing standards.

What is the significance of the removal of the Below Compliance (BC) indicator for the Company?

The removal of the Below Compliance (BC) indicator signifies a positive outcome for the Company's corporate governance and results in the Company being removed from the list of noncompliant issuers on NYSE's website.