PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) announced it has received an additional 180-day period, until March 28, 2027, to regain compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2).

The Toronto-based energy company said the notification has no immediate effect on the listing or trading of its common shares, which will continue to trade on the Nasdaq Capital Market under the symbol "PBK." To regain compliance, the closing bid price of its shares must remain at or above $1.00 for at least 10 consecutive business days during the compliance period.

PowerBank had previously received an initial 180-day compliance period that expired September 29, 2026. In connection with its request for the additional period, the company applied to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer was approved September 30, 2026, and became effective October 1, 2026.

The company said it meets all other continued listing requirements, including the market value of publicly held shares, except for the minimum bid price rule.

Separately, PowerBank disclosed that certain directors, officers, and consultants will establish an automatic securities disposition plan (ASDP) effective October 2, 2026. Participants include Chief Executive Officer Dr. Richard Lu, Executive Chairman Matthew Wayrynen, President and Chief Operating Officer Andrew van Doorn, Director Paul Sparkes, and General Counsel Olen Aasen.

The ASDP allows participants to sell common shares at prevailing market prices with specific daily volume limits. Sales are set to begin the later of 90 days following adoption of the plan or two business days after disclosure of quarterly financial results, not to exceed 120 days following adoption. An independent broker will execute all transactions under the plan.