WUHAN, China, Sept. 28, 2016 /PRNewswire/ -- Aoxin Tianli
Group, Inc. (NASDAQ: ABAC) ("Aoxin Tianli" or the "Company"), a
leading producer of breeder hogs, market hogs and black hogs, as
well as specialty processed black hog pork products sold through
retail outlets and the internet, with headquarters in Wuhan City, Hubei
Province, China, today
announced that it received notice from The Nasdaq Stock Market
LLC ("NASDAQ") that it has regained compliance with NASDAQ
Marketplace Rule 5550(a)(2) (the "Rule"), which requires that the
closing bid price per share of a listed company be at
least $1.00 per share.
As previously announced, on September 21, 2015, NASDAQ
notified the Company that the bid price of its common shares had
closed at less than $1.00 per share over the previous 30
consecutive business days and, as a result, the Company was not in
compliance with the Rule. On March 22, 2016, the Company
received a letter from NASDAQ granting the Company an additional
180-day period, or until September 19, 2016, in which to
regain compliance with the Rule.
On September 26, 2016, NASDAQ notified the Company that the
closing bid price of the common shares had been $1.00 per share or greater for more than 10
consecutive business days, from September 9,
2016 to September 22, 2016. Accordingly, the Company has
regained compliance with the Rule.
About Aoxin Tianli Group, Inc.
Aoxin Tianli Group, Inc. (the "Company"), previously known as
Tianli Agritech, Inc., is in the business of breeding, raising and
selling breeder and market hogs in China. The Company also sells specialty
processed black hog pork products through supermarkets and other
retail outlets, as well as the internet.
Forward-Looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
For more information, please contact:
Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
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SOURCE Aoxin Tianli Group, Inc.
