Toronto, June 10, 2026 (GLOBE NEWSWIRE) -- On June 9, 2026, Visionary Holdings Inc. (the "Company", Nasdaq ticker: GV) announced that on June 4, 2026, it received a Staff Determination Letter from the Nasdaq Listing Qualifications Department, in which Nasdaq regulatory staff formally determined to delist the Company's securities.
According to Nasdaq listing compliance records, on April 2, 2026, Nasdaq formally notified the Company that it had failed to timely file its Form 6-K, which should have included the interim balance sheet and income statement for the second quarter. As a result, the Company was found to be non-compliant with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1).
Nasdaq granted the Company a 60-calendar-day compliance period, requiring it to submit a compliance plan no later than June 1, 2026. As of June 4, 2026, the date of the Staff Determination Letter, the Company had not submitted the required compliance restoration plan. Accordingly, Nasdaq issued the delisting determination.
Under Nasdaq's applicable rules, if the Company does not submit a formal request for a hearing by 4:00 p.m. Eastern Time on June 11, 2026, trading in the Company's common shares will be suspended at the opening of the U.S. market on June 15, 2026. Nasdaq will also file Form 25-NSE with the U.S. Securities and Exchange Commission (SEC) to initiate the formal delisting process and remove the Company from the Nasdaq exchange and its registration records.
The Company acknowledges its right to appeal under Nasdaq Listing Rules Series 5800 and may request a hearing before the Nasdaq Hearings Panel to challenge the delisting determination. Under these rules, a hearing request may stay the suspension for up to 15 days in relation to delisting due to late filing. The Company may also request an extension of the stay, subject to approval by the Hearings Panel and supported by appropriate justification. All hearing requests, applications for stay extensions, and proof of payment of a non-refundable USD 20,000 hearing fee must be submitted electronically to Nasdaq by 4:00 p.m. Eastern Time on June 11, 2026.
The Company's management places strong emphasis on this compliance matter and regulatory notice and has immediately established a special working group to investigate the causes of the compliance issues, expedite the completion of required filings, and prepare materials for the hearing appeal and stay extension application in order to protect the interests of the Company and its shareholders.
On June 9, 2026, the Company submitted a "compliance plan" regarding its semi-annual reporting obligations to Nasdaq and has also initiated preparations for the hearing process. The Company will strictly comply with Nasdaq listing rules and disclosure requirements, and will continue to update the market and fulfill its disclosure obligations in a timely manner.
In accordance with Nasdaq's mandatory disclosure requirements, this announcement was submitted to the Nasdaq Market Surveillance Department 10 minutes prior to its official release, fully complying with regulatory timing and procedural requirements. Failure to comply would have triggered a mandatory trading halt; therefore, this disclosure is fully compliant.
During the subsequent hearing process, if Nasdaq regulatory staff identifies additional violations of listing rules, a separate formal notice will be issued, and the Company will cooperate fully with any review and complete all required corrective actions.
Risk Warning: The Company has received a Nasdaq delisting determination letter, and there is a risk of trading suspension and delisting of its shares. While the Company will actively pursue appeals and compliance remediation, the outcome remains uncertain. Investors are advised to exercise caution and consider investment risks.
Visionary Holdings Inc.
June 9, 2026
