Aurora Cannabis has been notified by the Nasdaq that it does not meet the stock exchange’s listing standards after its stock price fell below the $1 minimum bid price requirement for 30 days in a row.
The Edmonton, Alberta-based cannabis producer has until Sept. 20 – 180 calendar days from the date of the notification letter – to regain compliance with the Nasdaq’s minimum-bid requirement.
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Shares of the company were trading at approximately 70 cents (90 Canadian cents) on Friday afternoon.
If Aurora’s shares close at or above $1 per share for a minimum of 10 consecutive business days during the 180-day period, Nasdaq said it would provide written notification that Aurora had achieved compliance.
In a news release, Aurora said it intends to monitor the bid price for its shares and will consider “all available options to resolve the deficiency with every intention to regain
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