GV Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

Visionary Holdings (NASDAQ: GV), a private education provider with AI and life sciences technology, announced it has regained compliance with Nasdaq's Listing Rule 5550(a)(2). The company had received a notice on June 14, 2023, for failing to maintain a minimum bid price of $1.00 over 30 consecutive business days. However, as of June 12, 2024, Nasdaq confirmed that Visionary Holdings has maintained a closing bid price of at least $1.00 for the last 10 consecutive business days, from May 29 to June 11. This compliance issue is now resolved.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Maintained a closing bid price of at least $1.00 for 10 consecutive business days.
• Received official confirmation of compliance from Nasdaq.

Negative

• Had previously failed to maintain a minimum bid price of $1.00 for 30 consecutive business days.

TORONTO, June 13, 2024 /PRNewswire/ -- Visionary Holdings Inc. (the "Company") (NASDAQ: GV), a private education provider with technology of artificial intelligence and life science on the cutting edge, with subsidiaries in Canada and market partners in China, today announced the Company received a letter from the Listing Qualifications Staff (the "Staff') of the Nasdaq Stock Market LLC ("Nasdaq") on June 12, 2024, which stated that the Company has regained compliance with Listing Rule 5550(a)(2).

On June 14, 2023, Staff notified the Company that its common shares failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market.

On June 12, 2024, Nasdaq provided confirmation to the Company that for the last 10 consecutive business days from May 29, 2024 to June 11, 2024, the closing bid price of the Company's common shares has been at or above US$1.00. Accordingly, the Company has regained compliance with the minimum bid price requirement and this matter is now closed.

About Visionary Holdings Inc.

Visionary Holdings Inc. headquartered in Toronto, Canada, is a private education provider located in Canada, with subsidiaries in Canada and market partners in China, that offers high-quality education resources to students around the globe. The Company aims to provide access to secondary, college, undergraduate and graduate and vocational education to students in Canada through technological innovation so that more people can learn, grow and succeed to their full potential. As a fully integrated provider of educational programs and services in Canada, the Company has been serving and will continue to serve both Canadian and international students. For more information, visit the Company's website at https://ir.visiongroupca.com/.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "believes," "expects," "anticipates," "estimates," "intends," "would," "continue," "should," "may," or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the SEC.

For more information, please contact:

Visionary Holdings Inc.
Investor Relations Department
Email: ir@farvision.ca 

View original content:https://www.prnewswire.com/news-releases/gv-regains-compliance-with-nasdaq-minimum-bid-price-requirement-302171611.html

SOURCE Visionary Holdings Inc.

FAQ

What is Visionary Holdings' stock symbol?

The stock symbol for Visionary Holdings is GV.

When did Visionary Holdings regain compliance with Nasdaq's minimum bid price requirement?

Visionary Holdings regained compliance on June 12, 2024.

What was the compliance issue with Visionary Holdings?

Visionary Holdings failed to maintain a minimum bid price of $1.00 over 30 consecutive business days.

How long did Visionary Holdings maintain a closing bid price of at least $1.00?

Visionary Holdings maintained a closing bid price of at least $1.00 for 10 consecutive business days.

When did Visionary Holdings receive the initial notice from Nasdaq?

Visionary Holdings received the initial notice on June 14, 2023.