China Jo-Jo Drugstores, Inc. Regains Compliance with NASDAQ Minimum Bid
Price Listing Requirement
HANGZHOU, China -- December 14, 2012
China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) (the “Company”), a retail and
wholesale distributor of pharmaceutical and other healthcare products in
China, today announced that The NASDAQ Stock Market LLC (“NASDAQ”) notified
the Company in a letter dated December 14, 2012, that it has regained full
compliance with the NASDAQ Capital Market’s minimum bid price requirement for
The letter notes that as of December 13, 2012, the Company’s common stock
evidenced a closing bid price at or in excess of the $1.00 minimum requirement
for at least ten consecutive trading days. Accordingly, the Company has
regained compliance with NASDAQ Listing Rule 5550(a)(2), and the matter is
About China Jo-Jo Drugstores, Inc.
China Jo-Jo Drugstores, Inc., through its subsidiaries and contractually
controlled affiliates, is a retailer and wholesale distributor of
pharmaceutical and other healthcare products in the People’s Republic of
China. As of September 30, 2012, the Company has 65 retail pharmacies
throughout Zhejiang Province and Shanghai.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Certain of the statements made in the press release constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by the use
of forward-looking terminology such as “believe,” “expect,” “may,” “will,”
“should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative
thereof or comparable terminology. Such statements typically involve risks and
uncertainties and may include financial projections or information regarding
the progress of new product development. Actual results could differ
materially from the expectations reflected in such forward-looking statements
as a result of a variety of factors, including the risks associated with the
effect of changing economic conditions in The People’s Republic of China,
variations in cash flow, reliance on collaborative retail partners and on new
product development, variations in new product development, risks associated
with rapid technological change, and the potential of introduced or undetected
flaws and defects in products, and other risk factors detailed in reports
filed with the Securities and Exchange Commission from time to time.
China Jo-Jo Drugstores, Inc.
Chief Financial Officer
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