Clearmind Medicine received a formal notification from The Nasdaq Stock Market that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), which requires the Company’s common shares to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s common shares was at $1.00 per share or greater for the prior 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5450(a)(1) and Nasdaq considers the prior bid price deficiency matter now closed. As a result, the scheduled hearing before the Nasdaq Listing Qualifications Hearings Panel requested by the Company to stay the suspension of the Company’s securities from Nasdaq was canceled. The Company is now in compliance with all applicable listing standards and its common shares will continue to be listed and traded on Nasdaq.
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