Caravelle international group announces receipt of nasdaq notification regarding minimum bid price deficiency

Singapore , june 13, 2023 /pr newswire/ -- caravelle international group (nasdaq: caco), a global ocean technology company, today announced that it received a notification letter dated june 7, 2023 (the "notice") from the nasdaq stock market llc ("nasdaq"), indicating that the company was not in compliance with nasdaq listing rule 5550(a)(2) due to the closing bid price for the company's ordinary shares being below $1.00 per share for the last 30 consecutive business days. in accordance with nasdaq listing rule 5810(c)(3)(a), the company has 180 calendar days, or until december 4, 2023, to regain compliance.
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