Bruush Oral Care Inc. (NASDAQ:BRSH) (the “Company”), today announced that it has received a notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) on November 15, 2023 notifying the Company that the Company is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) because the closing bid price of the Company’s common shares was below $1.00 per share for a period of 30 consecutive business days. The notification has no immediate effect on the listing of the Company’s common shares, which will continue to trade uninterrupted on Nasdaq under the ticker “BRSH.”
The Company has a compliance period of 180 calendar days, or until May 13, 2024 (the “Compliance Period”), to regain compliance with the Minimum Bid Price Requirement. If at any time during the Compliance Period, the closing bid price per share of the Company’s common shares is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.
In the event the Company does not regain compliance with the Minimum Bid Price Requirement by May 13, 2024, the Company may be eligible for an additional 180-calendar-day grace period. The Company intends to monitor the closing bid price of the common shares and consider its available options to resolve the noncompliance with the Minimum Bid Price Requirement.
