Gaucho Group receives non-compliance notice from Nasdaq

Gaucho Group Holdings received a delinquency compliance alert notice from the Listing Qualifications Department of The Nasdaq Stock Market advising the Company that due to the Company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission, the Company is not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all required periodic reports with the SEC. Nasdaq provided the Company 60 days to submit a plan to regain compliance with the Rule. The Company intends to submit its plan of compliance to Nasdaq on or before June 17, 2024. If Nasdaq accepts the plan, the Company may be granted an extension of 180 calendar days from the due date of the Form 10-K or October 14, 2024 to regain compliance with the Rule. In the event the plan is not accepted by Nasdaq, the Company may appeal that decision to a Hearings Panel. The Company anticipates that it will file its 2023 Annual Report on or before April 29, 2024.