HF Foods Provides Update on Annual Meeting of Shareholders
HF Foods Group Inc. (NASDAQ: HFFG), a food distributor to Asian restaurants, plans a Combined Shareholders Meeting by June 30, 2023, to regain compliance with Nasdaq Listing Rule 5620(a). The company recently complied with Nasdaq filing requirements and will submit its Annual Report on Form 10-K for 2022 in March 2023. The board assures shareholders that despite addressing legacy financial matters, they continue to execute strategies for value creation. With 18 distribution centers and a customer base of over 15,000 across 46 states, HF Foods aims to meet the growing demand for Asian cuisine.
- Regained compliance with Nasdaq filing requirements.
- Plans to file 2022 Annual Report on Form 10-K in March 2023.
- Maintains strong customer base of over 15,000 across 46 states.
- Delinquent reports filed with the SEC could affect investor confidence.
- Risk of not regaining compliance with Nasdaq listing requirements.
LAS VEGAS, Feb. 14, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that it expects to hold its annual shareholders meetings for fiscal years ended December 31, 2021, and December 31, 2022, in a combined meeting (the “Combined Shareholders Meeting”) to be held no later than June 30, 2023, allowing it to regain compliance with Nasdaq Listing Rule 5620(a) and resolve the final pending Nasdaq delisting determination.
As previously announced, in light of the Company’s recent filing of delinquent reports with the Securities and Exchange Commission, HF Foods has regained compliance with Nasdaq filing requirements pursuant to Nasdaq Listing Rule 5250(c)(1). The Company expects to file its Annual Report on Form 10-K for the year ended December 31, 2022, with the Securities and Exchange Commission (the “SEC”) in March 2023, and to announce the date of the Combined Shareholders Meeting following such filing.
Following the filing of its 2022 Annual Report on Form 10-K, HF Foods also looks forward to providing shareholders with an update on its strategy and operations. The board of directors (the “Board”) and management team of HF Foods have worked tirelessly over the past year to address various legacy matters related to its financial disclosures and corporate practices. The Board and management team wish to reassure shareholders that despite the work necessary to address these legacy matters over the past year, they continue to execute on the Company’s strategy to drive value for our shareholders, employees, and customers.
About HF Foods Group Inc.
HF Foods Group Inc., headquartered in Las Vegas, Nevada, is a leading marketer and distributor of fresh produce, frozen and dry food, and non-food products to primarily Asian/Chinese restaurants and other foodservice customers throughout the United States. With 18 distribution centers strategically located throughout the nation, HF Foods aims to supply the increasing demand for Asian American restaurant cuisine. With more than 15,000 established customers in 46 states, and strong relations with growers and suppliers of food products in the US, South America and China, HF Foods Group is able to offer fresh, high-quality specialty restaurant foods and supplies at economical prices to its large and growing base of customers. For more information, please visit www.hffoodsgroup.com.
Forward-Looking Statements
All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as “believes,” “intends,” and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company’s actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Such factors include, but are not limited to, risks that the Company may not regain compliance with Nasdaq continued listing requirements relating to the Company’s annual meeting of stockholders within any applicable grace period, statements of assumption underlying any of the foregoing, and other factors disclosed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.
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