LISHUI, China, July 24,
2023 /PRNewswire/ -- CN Energy Group. Inc.
(NASDAQ: CNEY) ("CNEY" or the "Company") today announced that
on July 13, 2023, it received
notification from The Nasdaq Stock Market LLC ("NASDAQ"),
confirming that the Company had been granted an additional 180
calendar day period, or until January 8,
2024, to regain compliance under NASDAQ's minimum bid price
requirement. To regain compliance, the bid price for the Company's
Class A ordinary shares will need to close at $1.00 or more for a minimum of 10 consecutive
business days by January 8, 2024.
The current notification from NASDAQ has no immediate effect on
the Company's business operations or the listing or trading of the
Company's Class A ordinary shares, which will continue to trade on
the NASDAQ Capital Market under the symbol "CNEY." The Company
intends to monitor the closing bid price of its Class A ordinary
shares and may, if appropriate, consider implementing available
options, including, but not limited to, implementing a reverse
share split of its outstanding ordinary shares, to meet the minimum
bid price requirement.
About CN Energy Group. Inc.
CN Energy Group. Inc. is currently listed on NASDAQ under the
symbol "CNEY." With patented proprietary bioengineering and
physiochemical technologies, CNEY has pioneered and specialized in
producing high-quality recyclable activated carbon and renewable
energy from abandoned forest and agricultural residues, converting
harmful wastes into invaluable wealth and delivering significant
financial, economic, environmental and ecologic benefits.
CNEY's products and services have been widely used by food and
beverage producers, industrial and pharmaceutical manufacturers, as
well as environmental protection enterprises. For more information,
please visit the Company's website at www.cneny.com.
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SOURCE CN Energy Group. Inc.
