Intellipharmaceutics receives Nasdaq non-compliance notice
Intellipharmaceutics has received written notification from NASDAQ notifying the company that it is not in compliance with the minimum market value of listed securities requirement for continued listing on The Nasdaq Capital Market. The letter does not impact the company's listing on Nasdaq at this time.The company has been provided 180 calendar days, or until March 19, 2018, to regain compliance with Nasdaq listing rules. To regain compliance, the company's common shares must have a market value of at least $35.0M for a minimum of 10 consecutive business days. In the event the company does not regain compliance by March 19, 2018, the company may be eligible for additional time to regain compliance. The company intends to cure the deficiency within the prescribed grace period. During this time, the company's common shares will continue to be listed and trade on Nasdaq. The letter does not affect the company's compliance status with the Toronto Stock Exchange.