{"id":727750,"date":"2023-02-01T10:18:06","date_gmt":"2023-02-01T15:18:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/smart-for-life-provides-an-update-on-nasdaq-listing\/"},"modified":"2023-02-01T10:18:06","modified_gmt":"2023-02-01T15:18:06","slug":"smart-for-life-provides-an-update-on-nasdaq-listing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/smart-for-life-provides-an-update-on-nasdaq-listing\/","title":{"rendered":"Smart for Life Provides an Update on Nasdaq Listing"},"content":{"rendered":"

\nCompany\u2019s Successful Hearing with Nasdaq Hearings Panel Results in Extension until May 30, 2023 to Regain Compliance
\n<\/h2>\n
\n

MIAMI, Feb. 01, 2023 (GLOBE NEWSWIRE) — Smart for Life, Inc. (Nasdaq: SMFL) (\u201cSmart for Life\u201d or the \u201cCompany\u201d), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that the Company received a notification letter from The Nasdaq Stock Market LLC (\u201cNasdaq\u201d) on January 25, 2023, notifying the Company that the Nasdaq Hearings Panel (\u201cPanel\u201d) has granted an exception from two continued listing standards, Nasdaq\u2019s stockholders\u2019 equity requirement of $2,500,000, as set forth in Listing Rule 5550(b) (the \u201cEquity Rule\u201d), and Nasdaq\u2019s $1.00 bid price requirement, as set forth in Listing Rule 5550(a)(2) (the \u201cBid Price Rule\u201d), until May 30, 2023.<\/p>\n

As previously disclosed, on December 5, 2022, the Company requested a hearing with the Panel, which was held on January 19, 2023. As a result of the Panel\u2019s decision, the Company now has until May 30, 2023 to regain compliance with the Equity Rule and the Bid Price Rule.<\/p>\n

This news was preceded by the Company\u2019s successful conversion of approximately $2.5 million of debt to equity and the Company\u2019s announcement of its upcoming Annual Shareholder meeting scheduled for March 15, 2023.<\/p>\n

\u201cWe are very pleased with the Panel\u2019s decision to grant us an extension to regain compliance,\u201d stated Darren Minton, Smart for Life\u2019s Chief Executive Officer. \u201cWe are continuing to implement our high-growth acquisition strategy and have several potential acquisitions in the pipeline. We have a strong track record of acquiring complementary businesses at attractive valuations and continue to grow toward our goal of $100 million in revenue in the next 12 months.\u201d<\/p>\n

\n About Smart for Life, Inc. <\/strong>\n <\/p>\n

Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues within the next thirty-six months. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Sant\u00e9 Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com<\/a>.<\/p>\n

Video regarding the Company\u2019s manufacturing facility at Bonne Sant\u00e9 Natural Manufacturing is available at: www.bonnesantemanufacturing.com\/video<\/a>.<\/p>\n

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com\/investor-center<\/a>.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management\u2019s beliefs, assumptions and expectations of Smart for Life\u2019s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life\u2019s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in \u201cRisk Factors\u201d included in our filings with the Securities and Exchange Commission.<\/p>\n

\n Disclaimer<\/strong>\n <\/p>\n

The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.<\/p>\n

\n Investor Relations Contact<\/strong>\n <\/p>\n

Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com<\/u><\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Company\u2019s Successful Hearing with Nasdaq Hearings Panel Results in Extension until May 30, 2023 to Regain Compliance MIAMI, Feb. 01, 2023 (GLOBE NEWSWIRE) — Smart for Life, Inc. (Nasdaq: SMFL) (\u201cSmart for Life\u201d or the \u201cCompany\u201d), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that the Company received a notification letter from The Nasdaq Stock Market LLC (\u201cNasdaq\u201d) on January 25, 2023, notifying the Company that the Nasdaq Hearings Panel (\u201cPanel\u201d) has granted an exception from two continued listing standards, Nasdaq\u2019s stockholders\u2019 equity requirement of $2,500,000, as set forth in Listing Rule 5550(b) (the \u201cEquity Rule\u201d), and Nasdaq\u2019s $1.00 bid price requirement, as set forth in Listing … <\/p>\n

Continue reading “Smart for Life Provides an Update on Nasdaq Listing”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-727750","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSmart for Life Provides an Update on Nasdaq Listing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/smart-for-life-provides-an-update-on-nasdaq-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smart for Life Provides an Update on Nasdaq Listing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Company\u2019s Successful Hearing with Nasdaq Hearings Panel Results in Extension until May 30, 2023 to Regain Compliance MIAMI, Feb. 01, 2023 (GLOBE NEWSWIRE) — Smart for Life, Inc. (Nasdaq: SMFL) (\u201cSmart for Life\u201d or the \u201cCompany\u201d), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that the Company received a notification letter from The Nasdaq Stock Market LLC (\u201cNasdaq\u201d) on January 25, 2023, notifying the Company that the Nasdaq Hearings Panel (\u201cPanel\u201d) has granted an exception from two continued listing standards, Nasdaq\u2019s stockholders\u2019 equity requirement of $2,500,000, as set forth in Listing Rule 5550(b) (the \u201cEquity Rule\u201d), and Nasdaq\u2019s $1.00 bid price requirement, as set forth in Listing … Continue reading "Smart for Life Provides an Update on Nasdaq Listing"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/smart-for-life-provides-an-update-on-nasdaq-listing\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-01T15:18:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc0MDkxMCM1Mzg2NDc3IzIyNDQxNjk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/smart-for-life-provides-an-update-on-nasdaq-listing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/smart-for-life-provides-an-update-on-nasdaq-listing\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Smart for Life Provides an Update on Nasdaq Listing\",\"datePublished\":\"2023-02-01T15:18:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/smart-for-life-provides-an-update-on-nasdaq-listing\\\/\"},\"wordCount\":757,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/smart-for-life-provides-an-update-on-nasdaq-listing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODc0MDkxMCM1Mzg2NDc3IzIyNDQxNjk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/smart-for-life-provides-an-update-on-nasdaq-listing\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/smart-for-life-provides-an-update-on-nasdaq-listing\\\/\",\"name\":\"Smart for Life Provides an Update on Nasdaq Listing - 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