Bon Natural Life receives noncompliance notification from Nasdaq

Bon Natural Life (BON) announced that on April 29, the company received a letter from the listing qualifications staff of Nasdaq, notifying the company that it was not in compliance with Nasdaq Listing Rule 5450, as the company’s closing bid price for its Class A ordinary shares, par value $0.001 per share was below $1.00 per share for the prior thirty consecutive business days, which matter serves as a basis for delisting the company’s securities from Nasdaq. Additionally, the company’s securities had a closing bid of 10c or less for the last ten consecutive trading days, and accordingly, is subject to the provisions under Listing Rule 5810. This serves as an additional basis for delisting, and as such, the company is not eligible for a compliance period.