Bloomz (BLMZ) Receives Nasdaq Non-compliance Notice

BloomZ Inc. (NASDAQ: BLMZ) today announced that it has received a deficiency letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Capital Market ("Nasdaq") on December 2, 2024, indicating that the Company was not in compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule") for continued listing on Nasdaq.

The Minimum Bid Price Rule requires listed securities to maintain a minimum bid price of US $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet this requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's ordinary shares (the "Ordinary Shares") for over the last 30 consecutive business days from October 18, 2024 to November 29, 2024, the Company no longer meets the Minimum Bid Price Rule. In accordance with the Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until June 2, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the Company's Ordinary Shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive trading days during the 180-day period or prior to June 2, 2025. In the event that the Company does not regain compliance by June 2, 2025, the Company may be eligible for additional time to regain compliance or may face delisting.

The Company intends to actively monitor the closing bid price of its securities between now and June 2, 2025. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities on the Nasdaq Capital Market. The Company will take all reasonable measures to regain compliance.

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