Acasti intends to request hearing before nasdaq panel to present plan of compliance

Laval, quÉbec, may 17, 2021 (globe newswire) -- acasti pharma inc. (“acasti” or the “company”) (nasdaq: acst and tsx-v: acst) today announced that, on may 11, 2021, the company received notice from the nasdaq listing qualifications department (the “staff”) indicating that, based upon the company's non-compliance with the $1.00 bid price requirement set forth in nasdaq listing rule 5550(a) (the “rule”) as of may 10, 2021, the company's securities were subject to delisting unless the company timely requests a hearing before the nasdaq hearings panel (the “panel”). the company has previously disclosed and expected such notification from nasdaq and believes it has options to regain compliance, preferably in connection with its proposed acquisition of grace therapeutics, inc. (“grace”) as is often done in connection with similar transactions.
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