SHANGHAI, June 29,
2023 /PRNewswire/ -- Jowell Global Ltd. ("Jowell
Global" or the "Company") (NASDAQ: JWEL), one of the leading
cosmetics, health and nutritional supplements, and household
products e-commerce platforms in China, today announced that, on June 27, 2023, the Company received a written
notification from the NASDAQ Stock Market Listing Qualifications
Staff (the "Staff") indicating that the Company has been granted an
additional 180 calendar day period or until December 26, 2023, to regain compliance with the
$1.00 minimum closing bid price
requirement for continued listing on the NASDAQ Capital Market
pursuant to NASDAQ Listing Rule (the "Minimum Bid Price
Requirement").
NASDAQ's determination was based on the Company meeting the
continued listing requirement for market value of publicly held
shares and all other applicable requirements for initial listing on
the NASDAQ Capital Market, with the exception of the bid price
requirement, and the Company's written notice to NASDAQ of its
intention to cure the deficiency during the second compliance
period by effecting a reverse stock split, if necessary. If at any
time during this additional time period the closing bid price of
the Company's security is at least $1.00 per share for a minimum of 10 consecutive
business days, NASDAQ will provide written confirmation of
compliance and this matter will be closed. If compliance cannot be
demonstrated by December 26, 2023,
Staff will provide written notification that the Company's
securities will be delisted. At that time, the Company may appeal
the Staff's determination to a Hearings Panel (the "Panel") of
NASDAQ.
This notification from Nasdaq has no immediate effect on the
listing or trading of the Company's ordinary shares, which will
continue to trade on the Nasdaq Capital Market under the symbol
"JWEL". The Company will monitor the closing bid price of its
ordinary shares and will consider various options to regain
compliance before December 26,
2023.
About Jowell Global Ltd.
Jowell Global Ltd. (the "Company") is one of the leading
cosmetics, health and nutritional supplements and household
products e-commerce platforms in China. We offer our own brand products to
customers and also sell and distribute health and nutritional
supplements, cosmetic products and certain household products from
other companies on our platform. In addition, we allow third
parties to open their own stores on our platform for a service fee
based upon sale revenues generated from their online stores and we
provide them with our unique and valuable information about market
needs, enabling them to better manage their sales effort, as well
as an effective platform to promote their brands. The Company also
sells its products through authorized retail stores all across
China, which operate under the
brand names of "Love Home Store" or
"LHH Store" and "Juhao Best Choice Store". For more information,
please visit http://ir.1juhao.com/
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. The Company may also make written or oral
forward-looking statements in its reports filed with, or furnished
to, the U.S. Securities and Exchange Commission, in its annual
reports to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development; financial condition and results of
operations; product and service demand and acceptance; reputation
and brand; the impact of competition and pricing; changes in
technology; government regulations; fluctuations in general
economic and business conditions in China and assumptions underlying or related to
any of the foregoing and other risks contained in reports filed by
the Company with the SEC. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For investor and media inquiries, please contact:
Jowell Global Ltd.
Ms. Jessie Zhao
Email: IR@1juhao.com
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SOURCE Jowell Global Ltd.