Versus Systems regains compliance with Nasdaq minimum bid price requirement

Versus Systems announced that it has received notice from The Nasdaq Stock Market LLC on November 23, 2022 informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. On June 14, 2022, Versus received notice from Nasdaq that the company was not in compliance with the Rule, as its common shares failed to meet a closing bid price of $1.00 or more for 30 consecutive business days. The company conducted a 1-for-15 reverse split of its common shares on November 8, 2022, to aid the compliance process. To regain compliance with the Rule, the company’s common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. This requirement was met on November 22, 2022.