Canna-Global Acquisition Corp: Nasdaq/NYSE listing notice — Canna-Global faces potential Nasdaq delisting; intends to request hearing and transfer to Capital Market

Canna-Global Acquisition Corp

Common stock MVLS fell below $50M minimum; 180-day compliance period ended July 24, 2023.
Filed transfer application on July 31 to move from Nasdaq Global to Capital Market (less stringent requirements).
Must request hearing by August 2, 2023 to stay delisting; intends to do so.
Stock will continue trading until the hearing panel issues a written decision; no assurance of success.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Canna-Global Acquisition Corp received a nasdaq delisting notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

not regained compliance with the Market Value of Listed Securities (“MVLS”) Standard, since the Company’s common stock, par value $0.000001 per share (the “Common Stock”), was below the $50 million minimum MVLS requirement for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(A) (the “MLVS Rule”) and had not been at least $50 million for the proceeding 30 consecutive trading. As previously disclosed on Form 8-K filed on January 30, 2023, the Staff initially notified the Company on January 24, 2023 that the minimum MVLS for the Company’s Common Stock was below

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Source: SEC EDGAR

accession 0001493152-23-026237

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