BEIJING, URUMQI, China and
HANGZHOU, China, July 18, 2019 /PRNewswire/ -- China Lending
Corporation ("China Lending" or the "Company") (NASDAQ: CLDC), a
non-bank financial corporation servicing micro, small and medium
sized enterprises in China, today
announced that Nasdaq has scheduled the Company's hearing before
the Nasdaq Hearings Panel (the "Panel") for August 22, 2019. At the hearing, the Company
will present its plan to regain compliance with the Nasdaq
Listing Rules and request the continued listing of the Company's
securities on the Nasdaq Capital Market pending the Company's
compliance therewith.
As previously announced, on July 11,
2019, the Company received a delisting determination letter
from Nasdaq, indicating that the Company's securities would be
subject to delisting from the Nasdaq Capital Market based on its
non-compliance with the continued listing requirements, unless the
Company timely requests a hearing before the Nasdaq Hearings Panel
(the "Panel"). The Company filed the hearing request on
July 15, 2019, which has stayed the
delisting action of the Company's securities by Nasdaq pending the
Panel's final decision. There can be no assurance that the Panel
will grant the Company's request for continued listing.
The Company is doing everything within its control to regain
compliance with the Nasdaq listing rules. If the Panel upholds the
delisting determination following the hearing, the Company's
securities may be eligible for quotation on the OTC Bulletin Boards
or in the "pink sheets."
About China Lending Corporation
Founded in 2009, China Lending is a non-bank financial
corporation and provides comprehensive financial services to micro,
small and medium sized enterprises, and individuals. China Lending
has headquarters in Urumqi, the capital of Xinjiang Autonomous
Region, and Hangzhou, the capital
of Zhejiang province. For more
information, please visit: www.chinalending.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, the Company's expectations and plans in
connection with its ability to appeal the delisting determination
and to regain and maintain compliance with the Nasdaq continued
listing requirements, which can be identified by terminology such
as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Such statements are based
upon management's current expectations and current market and
operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
IR Contact:
At the Company:
Katrina Wu
Email: wuxiaoqing@chinalending.com
Phone: +86-991-316-9617
Investor Relations:
Robin
Yang
ICR
Email: Robin.Yang@icrinc.com
Phone: +86 158-8929-2733
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SOURCE China Lending Corporation