Tofutti Brands Inc. Announces Receipt of Notification From the OTC Markets Group That It No Longer Meets the Standards for Continued Qualification

Cranford, New Jersey, May 26, 2023 (GLOBE NEWSWIRE) — TOFUTTI BRANDS INC. (OTCQX: TOFB) (“Tofutti” or the “Company”) today announced that on May 22, 2023 it received a notice from the OTC Markets Group indicating that the Company no longer meets the Standards for Continued Qualification for the OTCQX U.S. tier as per the OTCX Rules for U.S. Companies (Version 8.6) section 3.2.b.2. Specifically, the Company’s market capitalization has stayed below $5 million for the past 30 consecutive calendar days. The Company has a cure period of 180 calendar days, expiring November 20, 2023, to regain compliance. In order to regain compliance, the Company’s market capitalization must stay at or above $5 million for 10 consecutive trading days within the cure period. The Company may also seek a transfer to the OTCQB market.

Read more at globenewswire.com