Full Press Release Details
China Jo-Jo Drugstores Granted Extension to Meet
Nasdaq Minimum Bid Price Requirement
HANGZHOU, China, January 26,
2022 /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 January 25, 2022, the Company received another 180 calendar day extension from Nasdaq's Listing Qualifications
Department to meet Nasdaq's continuing listing requirements by maintaining a minimum bid price per share of $1.00 for a minimum
of 10 consecutive trading days. The Company now has until July 25, 2022 to regain compliance.
If at any time before July 25, 2022, the bid price
of the Company's ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will
regain compliance with the Nasdaq Listing Rules, and the matter will be closed.
The Company was first notified by Nasdaq of its failure
to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A)
on July 26, 2021, and was given until January 24, 2022 to regain compliance.
About China Jo-Jo Drugstores, Inc.
China Jo-Jo Drugstores, Inc. ("Jo-Jo Drugstores"
or the "Company"), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare
products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores
with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale
distributor of products similar to those carried in its pharmacies. For more information about the Company, please visit http://jiuzhou360.com.
The Company routinely posts important information on its website.
Forward-Looking Statements
This press release contains information about the
Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially
from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not
limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business,
variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and
services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing
and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence
on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet
the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors
that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
Chief Financial Officer
Investor Relations Contact:
Ascent Investor Relations LLC