Nasdaq to delist Damon Inc. over substantial dilution from Series A warrants; hearing set for May 20

Damon Inc.

Nasdaq notified Damon on April 25, 2025 that staff determined to delist securities under Listing Rule 5101 due to public interest concerns over Series A warrant dilution.
Trading in Damon shares halted on April 29 pending outcome of Panel hearing scheduled for May 20, 2025.
Company plans to submit compliance plan to Nasdaq and apply for trading on OTCQB in case of unfavorable decision.
As of April 29, 2025, Damon had 2,450,477,042 common shares outstanding.

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