Qilian International receives 180-day extension from Nasdaq to regain compliance

Qilian International announced that on January 10, the company received a written notification from the Nasdaq’s Listing Qualifications Department, granting the company another 180 calendar days extension, or until July 8, 2024, to regain compliance with Nasdaq’s minimum bid price requirement. The company can cure this deficiency if the closing bid price of its ordinary shares is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period. The company intends to regain compliance with the minimum bid price requirement on or before July 8, 2024 and is considering all available options, including a reverse stock split if necessary. During this time, the company’s ordinary shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the company’s business.