San Diego, California–(Newsfile Corp. – March 28, 2024) – Hempacco Co., Inc. (NASDAQ: HPCO) ("Hempacco" or the "Company"), a vertically integrated hemp manufacturing company, announces its recent achievement of regaining compliance with Nasdaq's minimum bid price requirement. This milestone was confirmed in a letter received from Nasdaq on March 26, 2024, marking a pivotal moment for the Company's financial health and stock market presence.
The Nasdaq Stock Market notified Hempacco that, following a review of the Company's stock performance over the last ten consecutive trading days, from March 13, 2024, to March 26, 2024, the Company has satisfactorily maintained a closing bid price of $1.00 per share or greater. This ensures Hempacco's adherence to Listing Rule 5550(a)(2), effectively closing the matter related to bid price compliance.
Sandro Piancone, CEO of Hempacco, expressed his enthusiasm and optimism regarding this development. "Regaining compliance with NASDAQ's bid price requirements is a testament to our team's hard work and the faith our investors have placed in us. We are excited about the future and remain dedicated to delivering value to our shareholders," Piancone stated.
About Hempacco
Hempacco Co., Inc.'s goal is Disrupting Tobacco's nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff functional hemp cigarette and rolling paper brand.
Hempacco's operating segments include:
- Manufacturing of smokables, hemp rolling paper, and cannabinoid sticks
- Smokable technology development
- The Real Stuff brand of functional smokables and rolling paper
- Cheech and Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross
- Snoop Dogg Joint Venture of Hemp-Derived Products
For investor inquiries, please contact:
Sandro Piancone, CEO
Investor Relations: ir@hempaccoinc.com
619-779-0715
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including our financial performance and projections, revenue and earnings growth, and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.