Cannabis company Hexo regains compliance with Nasdaq’s minimum bid price requirement

Hexo Corp. says the Nasdaq Stock Market LLC has informed the cannabis company that it has regained compliance with minimum bid price requirements.

Gatineau, Que.-based Hexo became non-compliant with the requirement when its closing bid price for common shares listed on the Nasdaq dropped below US$1 for 30 consecutive trading days.

The company says it received a notice from Nasdaq on Jan. 19 that it has regained compliance after its shares closed at or greater than the US$1 per share minimum requirement for the last 10 consecutive business days.

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Hexo’s shares closed Thursday at US$1.49, up from about 50 cents US a year ago when Nasdaq issued the non-compliance notice.

Charlie Bowman, CEO of Hexo, says the market is starting to recognize the strides the company has made this year to position Hexo for long-term success.

He says the company has kept a tight focus on resetting the organization for profitable growth and remains dedicated to delivering a premium cannabis experience.

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