China Jo-Jo Drugstores Announced Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

HANGZHOU, China, June 16, 2023 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (Nasdaq: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that on June 15, 2023, the Company has received a notification letter from Nasdaq Listing Qualifications Department ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement from May 3, 2023 through June 14, 2023. As set forth in Nasdaq Listing Rules 5550(a)(2) ("Nasdaq Listing Rule"), it requires that the closing bid price for the Company's ordinary shares listed on Nasdaq be maintained at a minimum of US$1.00 and failure to meet it for 30 consecutive trading days constitutes a compliance deficiency.

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