HONG KONG, May 29, 2018 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (Nasdaq:SPI), a global provider of renewable energy solutions and cryptocurrencies miner hosting service for business, residential, government and utility customers and investors, today announced that it received a notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (“Nasdaq”) on May 17, 2018 indicating that the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1) for continued listing because its annual report on Form 20-F for the year ended December 31, 2017 (the “Annual Report”) was not filed on a timely basis with the Securities and Exchange Commission.
Pursuant to the Notice, the Company must submit a plan to regain compliance to Nasdaq (the “Compliance Plan”) no later than July 16, 2018. If the Compliance Plan is accepted, the Nasdaq staff may grant an exception of up to 180 calendar days from the due date of the Form 20-F, or November 12, 2018. The Notice has no immediate effect on the listing of the Company’s securities. The Company plans to submit the Updated Compliance Plan within the prescribed time period.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of renewable energy solutions and cryptocurrencies miner hosting service for business, residential, government and utility customers and investors. SPI Energy focuses on the EPC/BT, storage and O2O PV market including the development, financing, installation, operation and sale of utility-scale and residential PV projects in China, Japan, Europe and North America. The Company operates an online energy e-commerce and investment platform in China, B2B e-commerce platform offering a range of PV, storage products in Australia as well as online platform (www.Globalming.com) offering global VIP miner hosting service. The Company has its operating headquarters in Hong Kong and maintains global operations in Asia, Europe, North America and Australia.
For additional information, please visit: http://investors.spisolar.com For investors and media inquiries please contact:
SPI Energy Co., Ltd.
SPI Energy Co., Ltd.
Source: SPI Energy Co., Ltd.