Meiwu Technology Company Limited received a notification letter from Nasdaq regarding the insufficiency of the offer price

Meiwu Technology Company Limited

Shenzhen, China, May 16, 2022 (GLOBE NEWSWIRE) — Meiwu Technology Company Limited (“WNW” or the “Company”), (NASDAQ: WNW) today announced that on May 13, 2022, the Company received a letter notice from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that the minimum bid price per share for its common stock has been less than $1.00 for a period of 30 consecutive business days and that the Company therefore no longer meets the minimum offering price requirements set forth in Nasdaq Listing Rule 5550(a)(2).

The notification received has no immediate effect on the listing of the common shares of the Company on Nasdaq. Under Nasdaq listing rules, the company has until November 9, 2022 to come into compliance. If at any time during such 180-day period the closing bid price of the Company’s common stock is at least $1 for at least 10 consecutive business days, Nasdaq will provide the Company with written confirmation of compliance.

If the Company does not regain compliance within this 180 day period, the Company may be eligible for a further 180 calendar days, provided the Company meets the continuous listing requirement for the market value of the shares held by the public and all other initial listing standards for Nasdaq. except for Nasdaq listing rule 5550(a)(2), and provide written notice of its intention to remedy such deficiency during the second compliance period, by effecting a reverse stock split, if necessary.

About Meiwu Technology Company Limited
Meiwu Technology Company Limited is a British Virgin Islands company incorporated on December 4, 2018 and operates in China through our subsidiaries and variable interest entity, Wunong Technology (Shenzhen) Co., Ltd. shop on site www.wnw108.com. By optimizing the website and the data in real time, we are able to respond and adapt the supply to the demand for food products according to consumer trends.

Safe Harbor Statement
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates “, “projections,” “expects,” “anticipates,” “plans,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” ” should”, “future”, “proposes” and variations of these similar words or expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, which could lead to actual results or results. differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; the ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; disputes involving patents, intellectual property and other matters; potential changes in the legislative and regulatory environment; a pandemic or an epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those described in greater detail in the company’s filings with the Securities and Exchange Commission, which may be viewed at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. This information is only valid as of the date of this press release.

Contact
Meiwu Technology Company Limited
Xiaoyu Li
E-mail: [email protected]

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