American Rebel Holdings, Inc. Regains Compliance with NASDAQ Minimum Bid Price Requirement
October 17 2024 - 8:00AM
American Rebel Holdings, Inc. (NASDAQ: AREB) ("American Rebel" or
the "Company"), America’s Patriotic Brand (www.americanrebel.com)
and the creator of American Rebel Beer (www.americanrebelbeer.com),
and manufacturer and marketer of branded safes
(www.championsafe.com), personal security and self-defense products
and apparel, announced today that on October 16, 2024, it received
a formal notice from The Nasdaq Stock Market, LLC’s Listing
Qualifications (“Nasdaq”). The notice confirmed that the Company
has regained compliance with the minimum bid price requirement as
set forth in Nasdaq’s Listing Rule 5550(a)(2) (the “Bid Price
Rule”).
Previously on October 23, 2023, Nasdaq notified
the Company that its Common Stock failed to maintain a minimum bid
price of $1.00 over the previous 30 consecutive business days as
required by the Bid Price Rule. Nasdaq determined that for the last
10 consecutive business days, from October 2, 2024, to October 15,
2024, the closing bid price of the Company’s common stock was at
$1.00 per share or greater. Accordingly, the Company has regained
compliance with Listing Rule 5550(a)(2) and this matter is now
closed.
Andy Ross, CEO of American Rebel, stated, “We
are pleased to report that Nasdaq has recognized our compliance
with the minimum bid price requirement. With the resolution of this
compliance issue, we can continue to build upon the great progress
made during 2024 by concentrating our resources on continuing to
improve and advance our Champion Safe and American Rebel Beverage
business units. The recent launch of our domestic premium light
lager beer, American Rebel Light, has continued to exceed
expectations. Since our first production run at the end of August
2024 we have announced several shipments to our distribution
partners and can proudly state that American Rebel Light Beer –
America’s Patriotic, God-Fearing, Constitution-Loving, National
Anthem-Singing, Stand Your Ground Beer, is now available at retail
establishments within our distributor service territories and being
served at several on-premise accounts. Champion Safe has continued
to streamline its operations and product offerings, which has
reduced the overall monthly burn and is prepared for scale around
the new rightsized product mix, including the introduction of new
products to satisfy market demand in Q4 and Q1 of next year. Our
focus remains on capturing market share and revenue growth in order
to increase stockholder value.”
About American Rebel Holdings,
Inc.
American Rebel Holdings, Inc. (NASDAQ: AREB) has
operated primarily as a designer, manufacturer and marketer of
branded safes and personal security and self-defense products and
has recently transitioned into the beverage industry through the
introduction of American Rebel Beer. The Company also designs and
produces branded apparel and accessories. To learn more, visit
www.americanrebel.com www.championsafe.com and
www.americanrebelbeer.com. For investor information, visit
www.americanrebel.com/investor-relations.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB;
AREBW) (the “Company,” "American Rebel,” “we,” “our” or “us”)
desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including
this cautionary statement in connection with this safe harbor
legislation. The words "forecasts" "believe," "may," "estimate,"
"continue," "anticipate," "intend," "should," "plan," "could,"
"target," "potential," "is likely," "expect" and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements primarily on our current expectations and projections
about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy,
and financial needs. Important factors that could cause actual
results to differ from those in the forward-looking statements
include continued increase in revenues, continued compliance with
Nasdaq listing requirements, the ability of the Company to
introduce new products and gain market shares, actual distribution
timing and availability of American Rebel Beer, our ability to
effectively execute our business plan, and the Risk Factors
contained within our filings with the SEC, including our Annual
Report on Form 10-K for the year ended December 31, 2023. Any
forward-looking statement made by us herein speaks only as of the
date on which it is made. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
Company Contact:info@americanrebel.com
Investor Relations:Brian PrenoveauMZ North
America+1 (561) 489-5315 AREB@mzgroup.us
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