Full Press Release Details
Jo-Jo Drugstores, Inc. Announces 1-for-20 Reverse Stock Split
China, February 27, 2024 /PRNewswire/ - China Jo-Jo Drugstores, Inc. (the "Company") (Nasdaq: CJJD),
a Cayman Islands exempted company, reported that it expects to implement a 1-for-20 reverse stock split on its ordinary shares
("Ordinary Shares") effective Friday, March 1, 2024, with trading to begin on a split-adjusted basis at the market
open on that day. Trading in the Ordinary Shares will continue on the Nasdaq Capital Market under the symbol "CJJD". The
new CUSIP number for the Ordinary Shares following the reverse stock split is G2124G 120.
the effectiveness of the reverse stock split, every 20 shares of the Company's issued and outstanding Ordinary Shares, par value
$0.012 per share, will automatically be converted into one issued and outstanding Ordinary Share, par value $0.24 per share. No fractional
shares will be issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split
will be rounded up to the next whole number. The reverse stock split affects all shareholders uniformly and will not alter any shareholder's
percentage interest in the Company's outstanding Ordinary Shares, except for adjustments that may result from the treatment of
reverse stock split at a ratio of 1-for-20 shares was approved by the Company's board of directors and its shareholders.
The Company is to file a Third Amended and Restated Memorandum and Articles of Association with the Cayman Islands Registrar of Companies
effective March 1, 2024.
China Jo-Jo Drugstores, Inc.
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.
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.
information, please contact:
Ascent Investor Relations LLC