Finance & Investing | General News | Capital Markets
Torchlight Energy Regains NASDAQ Compliance
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Torchlight Energy Resources, Inc. has regained compliance with the $1.00 minimum closing bid price listing requirement and that, accordingly, it has determined to continue the listing of the Company’s common stock on the NASDAQ Capital Market.
Previously, Torchlight had been notified by the NASDAQ Stock Market of non-compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. In order to regain compliance with the rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on July 25, 2016, the tenth consecutive trading day when the closing bid price of the Company’s common stock traded over $1.00.
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