NASDAQ: NVCN
TSX: NVC
VANCOUVER, Dec. 19, 2016 /CNW/ - Neovasc Inc.
("Neovasc" or the "Company") (NASDAQ: NVCN) (TSX:
NVC) announced today that the Company has regained compliance with
the listing requirements of The NASDAQ Stock Market LLC
("Nasdaq").
As previously reported, on July 5,
2016, Neovasc received a letter from Nasdaq notifying the
Company that it was not in compliance with the minimum bid price
requirement set forth in the Nasdaq Rules for continued listing on
The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires
listed securities to maintain a minimum bid price of US$1.00 per share, and Listing Rule 5810(c)(3)(A)
provides that a failure to meet the minimum bid price requirement
exists if the deficiency continues for a period of 30 consecutive
business days.
On December 19, 2016, Neovasc
received notification from Nasdaq stating that since the closing
bid price of the Company's common shares had been greater than
US$1.00 per share for the last 10
consecutive business days, from December 5,
2016 to December 16, 2016,
Neovasc was in compliance with Listing Rule 5550(a)(2) and this
matter is now closed.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops,
manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products include the Neovasc
Reducer™, for the treatment of refractory angina which is not
currently available in the U.S. and has been available in
Europe since 2015 and the Tiara™,
for the transcatheter treatment of mitral valve disease, which is
currently under investigation in the U.S., Canada and Europe. The Company also sells a line of
advanced biological tissue products that are used as key components
in third-party medical products including transcatheter heart
valves. For more information, visit: www.neovasc.com.
SOURCE Neovasc Inc.