Edible Garden Regains Compliance with Nasdaq Continued Listing Requirements
16 February 2023 - 12:30AM
Edible Garden AG Incorporated (“Edible Garden” or the
“Company”) (Nasdaq: EDBL, EDBLW), a
leader in controlled environment agriculture (CEA), locally grown,
organic and sustainable produce and products, today announced that
it received notice from Nasdaq on February 10, 2023 indicating that
the Company had regained compliance with the minimum stockholders’
equity requirement for continued listing on Nasdaq under Nasdaq
Rule 5550(b)(1), the publicly held shares requirement under Nasdaq
Rule 5550(a)(4), and the minimum bid price requirement under Nasdaq
Rule 5550(a)(2).
Mr. Jim Kras, Chief Executive Officer of Edible Garden,
commented, “We are pleased to have regained compliance with the
continued listing requirements of Nasdaq. Maintaining our Nasdaq
listing is of the utmost importance to the Company given the
credibility and visibility that it provides. Armed with a
strengthened balance sheet, we look forward to aggressively
continuing to expand our retail footprint across the United States
providing Zero-Waste Inspired® sustainable produce.”
ABOUT EDIBLE
GARDEN®
Edible Garden AG Incorporated, is a leader in
locally grown organic leafy greens and herbs backed by Zero-Waste
Inspired® next generation farming. Offered at over 4,000 stores in
the US, Edible Garden is disrupting the CEA and sustainability
technology movement with its safety-in-farming protocols, use of
sustainable packaging, patented GreenThumb software and
self-watering in-store displays. The Company currently operates its
own state-of-the-art greenhouses and processing facilities in
Belvidere, New Jersey and Grand Rapids, Michigan, and has a network
of contract growers, all strategically located near major markets
in the U.S. Its proprietary GreenThumb software optimizes growing
in vertical and traditional greenhouses while seeking to reduce
pollution-generating food miles. Edible Garden is also a developer
of ingredients and proteins, providing an accessible line of plant
and whey protein powders under the Vitamin Way® and Vitamin Whey®
brands. In addition, the Company plans to offer a line of
sustainable food flavoring products such as Pulp gourmet sauces and
chili-based products.
Forward-Looking Statements
This press release contains forward-looking
statements, including with respect to its growth strategies and
performance as a public company. The words “look forward,”
“objective,” “plan,” “seek,” and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements are subject to a number of risks, uncertainties, and
assumptions, including market and other conditions and the
Company’s ability to achieve its growth objectives. The Company
undertakes no obligation to update any such forward-looking
statements after the date hereof to conform to actual results or
changes in expectations, except as required by law.
Investor Contacts:Crescendo Communications,
LLC212-671-1020
EDBL@crescendo-ir.com
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