Brüush Oral Care Inc. Faces Nasdaq Delisting, Appeals for Reinstatement

On March 1, 2024, Vancouver-based Brüush Oral Care Inc. (NASDAQ:BRSH) disclosed receiving a notice from the Nasdaq Listing Qualifications Department. The notice, received on February 27, 2024, threatens the delisting of the company's common shares from The Nasdaq Capital Market. The cause cited is a violation of the Low Priced Stocks Rule, which refers to the company’s common shares having a closing bid price of $0.10 or less for ten consecutive trading days, as observed on February 26, 2024.

Furthermore, Brüush Oral Care had already been under scrutiny for failing to maintain a minimum bid price of $1.00, receiving a prior notice from Nasdaq on November 15, 2023. Following the latest delisting notification, Brüush Oral Care has opted to appeal the decision to a Hearings Panel. The company formally requested a hearing on February 28, 2024, which is scheduled for April 25, 2024. Until the panel reaches a decision, the suspension of the company’s common shares has been stayed.

The company expressed its intention to present a plan at the hearing to regain compliance with Nasdaq’s listing rules. However, it acknowledges the uncertain outcome of such appeals. Brüush Oral Care also mentioned considering options to comply with Nasdaq listing standards, including potentially undertaking a reverse share split.