Tianli Agritech Receives NASDAQ Notification of Non-Compliance with Minimum
Bid Price Rule
WUHAN, China, Feb. 12, 2013
WUHAN, China, Feb. 12, 2013 /PRNewswire/ -- Tianli Agritech, Inc.
(NASDAQ:OINK) ("Tianli" or the "Company"), a leading producer of breeder hogs,
market hogs and black hogs based in Wuhan, China, acknowledges receipt of a
letter from NASDAQ citing the minimum bid price of the Company's common shares
was below $1.00 per share for 30 consecutive business days and that the
Company was therefore not in compliance with Marketplace Rule 5450(a)(1). The
Company has been provided with a period of 180 calendar days, or until August
5, 2013, to regain compliance with the Minimum Bid Price Rule. The NASDAQ
letter has no immediate effect on the listing of the Company's shares.
In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), Tianli may regain
compliance with the Minimum Bid Price Rule if the bid price of its common
stock closes at $1.00 per share or more for a minimum of 10 consecutive
business days at any time prior to August 5, 2013. The Company is currently
evaluating available options to resolve the deficiency and regain compliance
with the Minimum Bid Price Rule.
About Tianli Agritech, Inc.
Tianli Agritech, Inc. specializes in breeding, raising and distributing hogs
in the People's Republic of China. The company's mission is to provide people
the best quality pork meat, especially traditional Chinese Enshi Black Hogs.
The company constantly conducts genetic, breeding and nutrition research to
steadily improve its production capabilities.
This news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other statements that
are other than statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and service
demand and acceptance, changes in technology, economic conditions, the impact
of competition and pricing, government regulation, and other risks contained
in reports filed by the Company with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral, and whether made
by or on behalf of the Company, are expressly qualified by the cautionary
statements and any other cautionary statements which may accompany the
forward-looking statements. In addition, the Company disclaims any obligation
to update any forward-looking statements to reflect events or circumstances
after the date hereof.
Company - US
Tianli Agritech, Inc.
Mr. Simon Guo
Vice President and US Representative
Company - CHINA
Tianli Agritech, Inc.
Ms. Joyce Shen
Phone: 86-27-82740726 x 895
Mr. John Mattio
MZ Group, SVP
Phone: (212) 301-7130
SOURCE Tianli Agritech, Inc.
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