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Versus Systems Granted Additional 180 Calendar Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Requirement
LOS ANGELES, July 26, 2023 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (NASDAQ: VS) announced that it has received an additional
About this update from Versus Systems Inc.
[{"type":"text","content":"LOS ANGELES, July 26, 2023 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (NASDAQ: VS) announced that it has received an additional extension of 180 calendar days from The Nasdaq Stock Market LLC (\"Nasdaq\") to regain compliance with the minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the \"Bid Price Requirement\") for continued listing on the Nasdaq Capital Market. The extension follows the expiration of the initial 180 calendar day compliance period on July 24, 2023. Nasdaq’s determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and meeting all other applicable requirements for initial listing on the Nasdaq Capital Market, with the exception of the Bid Price Requirement. Versus has also provided written notice of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. As a result of the extension, Versus now has until January 22, 2024 to regain compliance with the Bid Price Requirement. If at any time before January 22, 2024, the bid price of the Company’s common shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification to Versus that it has achieved compliance with the Bid Price Requirement. This current notification from Nasdaq has no immediate effect on the listing or trading of the Company’s ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol “VS.” About Versus Systems Versus Systems Inc. is an engagement and rewards company that makes live events, games, streams, shows, and apps more fun to watch and play. Versus adds interactive, rewarded games to existing entertainment - whether in-venue or online – to make the content more contextual, personal, and rewarding. Versus works with Fortune 100 brands as well as NFL, NBA, MLB, NHL, and NCAA teams, as well as other content creators to make engaging, rewarding experiences for fans all over the world. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel. Disclaimer for Forward-Looking Information This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act o...