Lucy Scientific Discovery Inc. Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
May 28 2024 - 4:05PM
Business Wire
Lucy Scientific Discovery Inc. (NASDAQ: LSDI), a Company
dedicated to advancing the understanding and applications of
psychotropic medicines, improving mental health outcomes, and
enhancing well-being for individuals worldwide, announces that it
has a hearing scheduled for June 25, 2024 before a Nasdaq Hearings
Panel (the “Panel”) regarding its plan to regain compliance with
Nasdaq Listing Rule 5550(b) (the “Stockholders’ Equity Rule”).
On May 21, 2024, the Company received a letter from the Listing
Qualifications Department of the Nasdaq Stock Market (“Nasdaq”)
that, per Nasdaq Listing Rule 5250(c)(1) (the “Filings Rule”), the
Company is delinquent in filing its Quarterly Report on Form 10-Q
for the period ended March 31, 2024, which serves as an additional
basis for delisting the Company’s securities from Nasdaq.
The Company intends to request the continued listing of its
common shares on Nasdaq pending its compliance with the
Stockholders’ Equity Rule and the Filings Rule. However, there can
be no assurance that the Panel will grant the Company’s request or
that the Company will ultimately regain compliance with all
applicable requirements for continued listing on Nasdaq.
About Lucy Scientific Discovery Inc.
Lucy Scientific Discovery Inc. (NASDAQ: LSDI) is a Nasdaq-listed
company with holdings and operations in a variety of psychotropic
businesses. Lucy Scientific Discovery Inc. is dedicated to
advancing the understanding and applications of psychotropic
medicines, improving mental health outcomes, and enhancing
well-being for individuals worldwide.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements.
Forward-looking statements give our current expectations or
forecasts of future events. You can identify these statements by
the fact that they do not relate strictly to historical or current
facts. Forward-looking statements involve risks and uncertainties
and include statements regarding, among other things, our ability
to regain compliance with Nasdaq’s stockholders’ equity rule and
the filings rule. They are generally identifiable by use of the
words "may," "will," "should," "anticipate," "estimate," "plans,"
"potential," "projects," "continuing," "ongoing," "expects,"
"management believes," "we believe," "we intend" or the negative of
these words or other variations on these words or comparable
terminology. In particular, these include statements relating to
future actions, prospective products, market acceptance, future
performance, results of current and anticipated products, sales
efforts, expenses, and the outcome. Most of these factors are
outside Lucy’s control and are difficult to predict. Factors that
may cause actual future events to differ materially from the
expected results, include, but are not limited to: (i) the ability
to implement business plans and forecasts and (ii) other risks and
uncertainties indicated in the filings that are made from time to
time with the SEC by Lucy (including those under the “Risk Factors”
sections therein).
These statements are based on our management's expectations,
beliefs and assumptions concerning future events affecting us,
which in turn are based on currently available information. These
assumptions could prove inaccurate. Although we believe that the
estimates and projections reflected in the forward-looking
statements are reasonable, our expectations may prove to be
incorrect.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240528126456/en/
Investor Contact: Addo Investor Relations, Inc.
lucyscientific@addo.com
Lucy Scientific Discovery (NASDAQ:LSDI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Lucy Scientific Discovery (NASDAQ:LSDI)
Historical Stock Chart
From Jul 2023 to Jul 2024