Adamas one receives nasdaq notification of non-compliance with listing rule 5250(c)(1)

Scottsdale, ariz., aug. 27, 2024 (globe newswire) -- adamas one corp. (nasdaq: jewl) (“adamas one,” “adamas” or the “company”), the original lab-grown diamond company™, a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, lab-grown diamonds for jewelry and diamond materials for industrial uses, today reports that, as previously disclosed, the company had a hearing scheduled for may 30, 2024 before a nasdaq hearings panel (the “panel”) regarding its plan to regain compliance with: (1) nasdaq listing rule 5550(a)(2) (the “minimum bid price rule”); (2) nasdaq listing rule 5250(f) (the “fees rule”); and (3) nasdaq listing rule 5250(c)(1) (the “filings rule”). on june 07, 2024, the company received a decision letter from the panel of the nasdaq stock market (“nasdaq”). the panel granted the company's request for continued listing on the nasdaq capital market, subject to the following: 1) on or before july 29, 2024, the company shall cure its filing delinquencies and demonstrate compliance with the filings rule; and 2) on or before august 30, 2024, the company shall have demonstrated compliance with the minimum bid price rule, by evidencing a closing bid price of $1 or more per share for a minimum of ten consecutive trading sessions.
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