Locafy regains compliance with Nasdaq stockholders’ equity requirement

Locafy received a notice on December 18, 2023, from the Nasdaq Office of General Counsel of the Nasdaq Stock Market, that the Nasdaq Hearings Panel has determined that the Company had regained compliance with Nasdaq Listing Rule 5550(b)(1) as related to the minimum stockholders’ equity requirement of $2,500,000 for continued listing on Nasdaq on October 31, 2023. Additionally, pursuant to the Notice and Nasdaq Listing Rule 5818(d)(4)(B), the Company will be subject to a mandatory panel monitor for a period of one year from October 31, 2023. As previously reported, on March 31, 2022, the Company received a Notice from Nasdaq informing it that it was not in compliance with the Stockholders’ Equity Requirement, and in August 2023, the Company was granted an exception to the Stockholders’ Equity Requirement by the Panel, subject to certain conditions, including that the Company file an Annual Report on Form 20-F for the year ended June 30, 2023, by October 31, 2023, demonstrating compliance with the Stockholders’ Equity Requirement, which such Annual Report was filed on October 11, 2023.