China ACM Announces Regained Compliance With the Listing Rule 5550(a)(2) for
Continued Listing on The NASDAQ Capital Market
BEIJING, Aug. 23, 2013 (GLOBE NEWSWIRE) -- China Advanced Construction
Materials Group, Inc. (Nasdaq:CADC) ("China ACM", the "Company"), a provider
of ready-mix concrete and related technical services in China, today announced
that it received a letter from The NASDAQ Stock Market LLC ("NASDAQ") on
August 20, 2013 notifying the Company that it had regained compliance with the
$1.00 minimum bid price requirement for continued listing on The NASDAQ
Capital Market. During the period between and including August 2, 2013 and
August 19, 2013, the Company's common stock closed at a price higher than
$1.00 per share. Accordingly, NASDAQ informed the Company that it regained
compliance with Listing Rule 5550(a)(2), the minimum bid price rule, and the
matter is now closed.
About China Advanced Construction Materials Group, Inc.
China Advanced Construction Materials Group, Inc., is the holding company
whose primary business operations are conducted through its wholly-owned
subsidiaries, and its variable interest entity in the supply market of
construction materials. The Company engages in the production of advanced
construction materials for large scale infrastructure, commercial and
residential developments. The Company is primarily focused on engineering,
producing, servicing, delivering and pumping a comprehensive range of advanced
ready-mix concrete materials for highly technical, large scale, and
environmentally-friendly construction projects. The Company is committed to
conducting operations with an emphasis on the extensive use of recycled waste
materials, extending product life, the efficient production of its concrete
materials with minimal energy usage, dust and air pollution, and innovative
products, methods and practices.
For more information, please visit the Company's website at
http://www.ir-site.com/cadc/index.asp. The Company routinely posts important
information on its website.
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including certain plans,
expectations, goals, and projections, which are subject to numerous
assumptions, risks, and uncertainties. These forward-looking statements may
include, but are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate," "predict,"
"potential," "expects," "intends", "future" and "guidance" or similar
expressions. These forward-looking statements speak only as of the date of
this press release and are subject to change at any time. These
forward-looking statements are based upon management's current expectations
and are subject to a number of risks, uncertainties and contingencies, many of
which are beyond the Company's control that may cause actual results, levels
of activity, performance or achievements to differ materially from any future
results, levels of activity, performance or achievements expressed or implied
by such forward-looking statements. The Company's actual results could differ
materially from those contained in the forward-looking statements due to a
number of factors, including those described under the heading "Risk Factors"
in the Company's public filings with the Securities and Exchange Commission,
including the Company's annual report on 10-K. 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
under applicable law.
CONTACT: For investor and media inquiries, please contact:
China ACM Investor Relations
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