Nasdaq To Delist Elys Game Technology's Shares

(RTTNews) - Elys Game Technology Corp. (ELYS) said that on October 13, 2023, it received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the company that trading of its common shares will be suspended as of the opening of business on October 17th, 2023.

ELYS closed Monday's regular trading at $0.41 down $0.10 or 20.38%. In the after-hours trading the stock further dropped $0.27 or 65.95%.

The company's common stock did not maintain a minimum closing bid price of $1.00 per share as required by Nasdaq Listing Rule. Accordingly, the Nasdaq Hearings Panel has determined to delist the company's shares from Nasdaq.

The Delisting Letter provides that the Company may request the Nasdaq Listing and Hearing Review Council to review the delisting decision within 15 days from the date of the Delisting Letter.

The company estimates that its expenses related to maintaining its Nasdaq listing are approximately $1.6 million annually.

The company has initiated the process of transferring the quotation of its common stock to one of the over-the-counter markets operated by OTC Markets Group Inc. The shares of the Company's common stock will continue to trade under the symbol "ELYS."