LISHUI, China, Oct. 11,
2024 /PRNewswire/ -- CN Energy Group. Inc. (the
"Company"; NASDAQ: CNEY), today announced that on October 9, 2024, Company received a written
notice from Listing Qualifications Department of The Nasdaq Stock
Market LLC ("Nasdaq") notifying the Company that it
has regained compliance with the minimum market value of
publicly held shares ("MVPHS") requirement (the "MVPHS
Requirement") under Nasdaq Listing Rule 5550(a)(5) (the
"Rule").
The Company was previously notified by Nasdaq on September 6, 2024, that it was not in compliance
with the MVPHS requirement because its Class A ordinary
share had failed to maintain a MVPHS of $1,000,000 over the previous 30 consecutive
trading days as required by the Nasdaq Capital Market under the
Rule. In order to regain compliance with the Rule, the Company was
required to maintain a minimum MVPHS of $1,000,000 or more for at least 10 consecutive
trading days. The staff of Nasdaq has determined that for the last
10 consecutive business days, from September
25 through October 8, 2024, the Company's MVPHS has been
$1,000,000 or greater. Accordingly,
the Company has regained compliance with the Rule.
About CN Energy Group. Inc.
CN Energy Group. Inc. is currently listed on the Nasdaq Capital
Market under the symbol of CNEY. With patented proprietary
bioengineering and physiochemical technologies, the Company 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. The Company'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.
Forward-Looking Statements
Certain statements, other than statements of historical facts,
made in this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties, including the further spread of the COVID-19 virus
or new variants thereof, or the occurrence of another wave of cases
and the impact it may have on the Company's operations and the
demand for the Company's products, and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
conditions, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will, " "expect, " "anticipate, "
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
refer to its filings with SEC, including without limitation,
Company's registration statements and other filings with the SEC
that set forth certain risks and uncertainties that may have an
impact on future results and directions of the Company.
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SOURCE CN Energy Group. Inc.