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Village Farms International, which owns Canadian cannabis producer Pure Sunfarms, was granted a six-month extension by the Nasdaq stock exchange to regain compliance after its stock price fell below the exchange’s minimum-bid rule.
Village Farms was warned last April that its shares weren’t meeting the exchange’s listing standards.
The Nasdaq requires issuers to maintain a minimum bid price of at least $1 per share.
According to a news release, Village Farms now has until April 15, 2024, to regain compliance with the minimum-bid requirement, meaning the bid price for the company’s shares must close at or above $1 for a minimum of 10 consecutive trading days.
During the extension period, the common shares of Village Farms will continue to trade on the Nasdaq.
Shares of Village Farms trade as VFF on the Nasdaq.