Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 20, 2023, Biotricity Inc. (the "Company"), received a letter (the
"Letter") from the staff of The Nasdaq Capital Market LLC (the "NasdaqCapital
Market") stating that the Company's closing bid price for the last 30
consecutive business days was less than $1.00 per share. As a result, the
Company does not satisfy the continued listing requirement to maintain a minimum
bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2)
(the "Bid Price Rule"). The notification had no immediate effect on the listing
or trading of the common stock on the Nasdaq Capital Market.
Nasdaq Listing Rule 5810(c)(3)(A) provides a compliance period of 180 calendar
days, or until July 19, 2023 (the "Compliance Date"), to regain compliance. If
at any time during this 180-day period the closing bid price of the Company's
common stock is at least $1.00 for a minimum of ten consecutive business days,
the Company will regain compliance. If the Company is unable to regain
compliance before the Compliance Date, the Company may be eligible for an
additional 180 calendar days to satisfy the Bid Price Rule. To qualify, the
Company will be required to meet the continued listing requirement for market
value of publicly held shares and all other initial listing standards for the
Nasdaq Capital Market with the exception of the bid price requirement, and will
need to provide written notice of its intention to cure the deficiency during
such additional compliance period, by effecting a reverse stock split, if
necessary. If the Company does not regain compliance by the Compliance Date and
is not eligible for the additional compliance period at that time, the Nasdaq
Capital Market will provide written notification to the Company that its common
stock may be delisted. The Company intends to monitor the closing bid price of
its common stock and may, if appropriate, consider available options to regain
compliance with the Bid Price Rule.
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