Jiuzi holdings inc. receives nasdaq notification regarding minimum bid price deficiency

Hangzhou, china , aug. 1, 2022 /prnewswire/ -- jiuzi holdings, inc. (nasdaq: jzxn) ("jiuzi" or the "company"), a leading new energy vehicle (nev) dealership group under the brand name "jiuzi" in china, today announced that the company has received a written notification (the "notification letter") from the nasdaq stock market llc ("nasdaq") on july 26, 2022, notifying the company that it is not in compliance with the minimum bid price requirement set forth in nasdaq rules for continued listing on the nasdaq. nasdaq listing rule 5550(a)(2) requires listed securities to maintain a minimum bid price of us$1.00 per share, and listing rule 5810(c)(3)(a) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
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