CN Energy Group. Inc. Announces Nasdaq Delisting Notification and Intends to Appeal
LISHUI, China, Jan. 5, 2024 /PRNewswire/ — CN Energy Group. Inc. (NASDAQ: CNEY) (the “Company”), a high-tech enterprise specializing in cogeneration of high-quality wood-activated carbon and clean energy, today announced that it received a letter from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) on December 29, 2023. This letter stated that, because the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days as of the letter date, unless the Company timely requested a hearing before a Hearings Panel (the “Panel”) to appeal Nasdaq’s delisting determination, trading of the Company’s securities will be suspended at the opening of business on January 9, 2024, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq, according to Listing Rule 5810(c)(3)(A)(iii).
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