NEW
YORK, June 12, 2023 /PRNewswire/ -- Fresh2 Group
Ltd., formerly AnPac Bio-Medical Science Co., Ltd. (NASDAQ: FRES),
a company with operations in the United
States and China focused on
early cancer screening and detection and plans to enter into the
operation of a business-to-business e-commerce food platform
focused on the sale of Asian sourced food products, today announced
that The Nasdaq Stock Market LLC ('Nasdaq") notified the
Company on June 9, 2023 that Nasdaq
has determined the Company has regained compliance with the
requirements to remain listed on The Nasdaq Capital Market, as
required by the Hearing Panel's ("Panel") decision dated
March 22, 2023.
Pursuant to Listing Rule 5815(d)(4)(B), the Company will be
subject to a Mandatory Panel Monitor for a period of one year from
June 9, 2023. If, within that
one-year monitoring period, Listing Qualifications staff ("Staff")
finds the Company again out of compliance with the requirement that
was the subject of the exception, notwithstanding Rule 5810(c)(2),
the Company will not be permitted to provide the Staff with a plan
of compliance with respect to that deficiency and Staff will not be
permitted to grant additional time for the Company to regain
compliance with respect to that deficiency, nor will the company be
afforded an applicable cure or compliance period pursuant to Rule
5810(c)(3). Instead, Staff will issue a Delist Determination Letter
and the Company will have an opportunity to request a new hearing
with the initial Panel or a newly convened Hearings Panel if the
initial Hearings Panel is unavailable. The Company will have the
opportunity to respond/present to the Panel as provided by Listing
Rule 5815(d)(4)(C). The Company's securities may be at that time
delisted from Nasdaq.
About Fresh2 Group Limited
Fresh2 Group Limited is a biotechnology company focused on early
cancer screening and detection, with 155 issued patents as of
March 31, 2023. With two certified
clinical laboratories in China and
one CLIA and CAP accredited clinical laboratory in the United States, Fresh2 performs a suite of
cancer screening and detection tests, including CDA (Cancer
Differentiation Analysis), bio-chemical, immunological, and
genomics tests. The Company is entering the business-to-business
e-commerce food business with the formation of its wholly-owned
subsidiary Fresh2 Technology Inc and the acquisition of Fresh2
Ecommerce Inc.
For more information, please visit:
https://fresh2.co/investors.
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-917-609-0333 (U.S.)
Email: tina.xiao@ascent-ir.com
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are made under the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and are relating to the Company's future financial and operating
performance. The Company has attempted to identify forward-looking
statements by terminologies including "believes," "estimates,"
"anticipates," "expects," "plans," "projects," "intends,"
"potential," "target," "aim," "predict," "outlook," "seek," "goal"
"objective," "assume," "contemplate," "continue," "positioned,"
"forecast," "likely," "may," "could," "might," "will," "should,"
"approximately" or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are based on current expectations, assumptions and
uncertainties involving judgments about, among other things, future
economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company's control.
These statements also involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results to be materially different from those expressed or implied
by any forward-looking statement. Known and unknown risks,
uncertainties and other factors include, but are not limited to,
our ability to comply with Nasdaq Listing Rules including
maintaining our listing on the Nasdaq Capital Market, the
implementation of our business model and growth strategies; trends
and competition in the cancer screening and detection market; our
expectations regarding demand for and market acceptance of our
cancer screening and detection tests and our ability to expand our
customer base; our ability to obtain and maintain intellectual
property protections for our CDA technology and our continued
research and development to keep pace with technology developments;
our ability to obtain and maintain regulatory approvals from the
NMPA, the FDA and the relevant U.S. states and have our
laboratories certified or accredited by authorities including the
CLIA; our future business development, financial condition and
results of operations and our ability to obtain financing
cost-effectively; potential changes of government regulations;
general economic and business conditions in China and elsewhere; our ability to hire and
maintain key personnel; our relationship with our major business
partners and customers; and the duration of the coronavirus
outbreaks and their potential adverse impact on the economic
conditions and financial markets and our business and financial
performance, such as resulting from reduced commercial activities
due to quarantines and travel restrictions instituted by
China, the U.S. and many other
countries around the world to contain the spread of the virus. A
number of these risks along with additional discussion of
forward-looking statements, are set forth in the Company's Annual
Report on Form 20-F and other reports filed with the Securities and
Exchange Commission. In addition, there is uncertainty about the
spread of the COVID19 virus and the impact it will have on the
Company's operations, global supply chains and economic activity in
general. Because of these and other risks, uncertainties and
assumptions, undue reliance should not be placed on these
forward-looking statements. In addition, these statements speak
only as of the date of this press release and, except as may be
required by law, the Company undertakes no obligation to revise or
update publicly any forward-looking statements for any
reason.
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SOURCE Fresh2 Group Limited