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PowerBank Corporation Gains Additional 180 Days from Nasdaq

PowerBank Corporation, a North American energy firm listed on the Nasdaq under the symbol PBK, has recently received a reprieve. The company has been granted an additional 180 days by The Nasdaq Stock Market to comply with its minimum bid price requirement, which has previously posed some challenges. This extension allows the company until March 28, 2027, to rectify the situation. Currently, it meets the market value requirement for publicly held shares and all other criteria except for the bid price.

Background of the Compliance Issue

The initial notification from Nasdaq had put the spotlight on PowerBank's non-compliance regarding the minimum bid price rule, triggering a 180-day compliance window that ended on September 29, 2026. Understanding the gravity of this situation, PowerBank applied for an extension, which was encouraged by its transfer from the Nasdaq Global Market to the Nasdaq Capital Market—a move approved recently on September 30, 2026, making it effective on October 1, 2026.

During this additional compliance period, the company plans to closely monitor its Common Shares' closing bid price. If, at any point within these 180 days, the shares maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will confirm that compliance has been regained, putting an end to the compliance matter.

Automatic Securities Disposition Plan (ASDP)

In another strategic move, PowerBank has announced the establishment of an Automatic Securities Disposition Plan (ASDP), effective from October 2, 2026. This new plan allows specific directors, officers, and consultants to sell shares in an orderly manner, thus maintaining market stability and mitigating potential negative impacts on share prices. The transactions conducted under the ASDP will be guided by pre-arranged terms set to operate without influence from insiders who may have private or undisclosed material information.

The ASDP is designed in compliance with the regulations of Canada and the United States, enabling insiders to arrange the sale of their shares so as to adhere to market laws without jeopardizing their standing or the company's share values. Each transaction under this plan will be documented in line with the legal requirements, ensuring complete transparency in execution.

Future Outlook for PowerBank

PowerBank Corporation is repositioning itself to regain compliance and enhance its market standing. The directorate and management are committed to addressing both the compliance issues with Nasdaq and the overarching goal of expanding their renewable energy portfolio. The company has projects focusing on solar and Battery Energy Storage Systems (BESS) that are expected to bolster their energy development footprint significantly.

Notably, PowerBank enjoys a robust development pipeline, estimated to reach nearly one gigawatt, alongside previously completed projects totaling over 100 megawatts. As it navigates these compliance waters, PowerBank remains committed to engaging stakeholders and protecting the interests of its investors. Overall, its strategy is focused on restoring compliance, driving growth, and fostering a sustainable energy future.

In summary, PowerBank holds a promising outlook as it works diligently to recover from compliance issues. With its established framework for ensuring market legitimacy and a proactive approach to its business model, PowerBank Corporation is positioned to achieve its targets while contributing meaningfully to the clean energy sector.