The Valens Company announced it received an extension of 180 calendar days from the Nasdaq Stock Market to regain compliance with the Nasdaq’s minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550 for continued listing on the Nasdaq Capital Market, following the expiration of the initial 180 calendar days period to regain compliance on December 12, 2022. The Nasdaq determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the Bid Price Requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period by effecting a share consolidation, if necessary. As a result of the extension, the Company now has until June 12, 2023, to regain compliance with the Bid Price Requirement
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