By Denny Jacob
IM Cannabis received written notification from the Nasdaq Stock market on Tuesday about not being in compliance with the minimum bid price for continued listing.
The medical cannabis company said it doesn’t meet the minimum bid price requirement based on the closing bid price of its common shares for the 30 consecutive business days from June 16 to July 31.
IM Cannabis’ listing on the Nasdaq isn’t impacted at this time. The company has been provided 180 calendar days, or until Jan. 29, to regain compliance, which would occur by its common shares having a closing bid price of at least $1 for a minimum of 10 consecutive business days.
Write to Denny Jacob at denny.jacob@wsj.com
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