EAST Eastside Distilling Inc

As previously reported, on June 3, 2022 Eastside Distilling, Inc. (“Eastside Distilling” or the “Company”) received written notice from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market, LLC (“Nasdaq”) that, for the preceding 30 consecutive business days, the closing bid price for Eastside Distilling’s Common Stock had been below $1.00 per share and, as a result, Eastside Distilling was not in compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”). In accordance with Nasdaq rules, the Company was provided a period of 180 calendar days, or until November 30, 2022, to regain compliance with the Bid Price Requirement.

On December 1, 2022, the Company received written notification from the Staff granting its request for a 180-day extension to regain compliance with the Bid Price Requirement. Eastside Distilling now has until May 30, 2023 to meet the requirement. If at any time prior to May 30, 2023, the bid price of the Company’s Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, it will regain compliance with the Bid Price Requirement. If compliance with the Bid Price Requirement cannot be demonstrated by May 30, 2023, the Staff will provide written notification that Eastside Distilling’s Common Stock will be delisted from the Nasdaq Capital Market. At that time, Eastside Distilling may appeal Nasdaq’s determination to a Hearings Panel.

Eastside Distilling will actively monitor the closing bid price of its Common Stock and will, if appropriate, implement available options, including a reverse stock split, to regain compliance with the Bid Price Requirement under the Nasdaq Listing Rules.