REGINA, SK, June 6, 2025 /PRNewswire/ - Above Food Ingredients Inc. (NASDAQ: ABVE) ("the Company"), acknowledges receipt of a formal notification from The Nasdaq Stock Market LLC regarding non-compliance with Listing Rule 5450(b)(3)(C), regarding minimum market value of publicly held shares (PR market value). The company is very pleased that this condition has been met as of May 27, 2025.Furthermore, the Company is very pleased that, as of May 27, 2025, it has met Listing Rules 5810(c)(3)(A) and 5450(a)(1) ...

Core Viewpoint - Above Food Ingredients Inc. is actively addressing compliance issues with Nasdaq and is optimistic about regaining compliance ahead of the scheduled hearing on May 22, 2025 [1][2]. Group 1: Compliance Issues - The company received a notice on October 10, 2024, indicating non-compliance with Nasdaq's minimum bid price requirement, as its closing bid price was below $1.00 per share for 30 consecutive business days [2]. - The company has requested a hearing and an extended stay in response to a staff determination notice received on April 14, 2025, and is confident in meeting compliance requirements before the hearing [1][2]. Group 2: Financial Restructuring - A significant restructuring announced on March 20, 2025, has improved the company's financial position by eliminating most corporate debt and advancing towards operational profitability [2]. - The successful closing of the Palm transaction, first announced on February 6, 2025, is expected to materially enhance shareholder value [2]. Group 3: Reporting Compliance - Due to the restructuring, the company has not yet filed its interim balance sheet and income statement for the period ended July 31, 2024, which is a violation of Listing Rule 5250(c)(2) [3]. - The company plans to remedy this deficiency by filing the required Form 6-K before April 30, 2025, ahead of the hearing date [3]. Group 4: Company Overview - Above Food Ingredients Inc. is an ingredient company focused on delivering nutritious products made with real ingredients, emphasizing transparency and sustainability [4]. - The company aims to create a healthier world through its operations in primary agriculture and processing, leveraging artificial intelligence-driven genomics and agronomy [4].