IMTE Announces 180-Day Extension to Regain Compliance with Nasdaq Minimum Bid Price Requirement

SYDNEY and NEW YORK, May 4, 2023 /PRNewswire/ -- As previously disclosed on a Form 6-K filed on November 3, 2022, on November 2, 2022, Integrated Media Technology Limited (NASDAQ:IMTE) ("IMTE" or the "Company") received a notification letter (the "Notification Letter") from the Listings Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") regarding a failure to meet Nasdaq's minimum bid price requirements. The Notification Letter informed the Company that the minimum closing bid price per share for its common stock was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). In accordance with its Listing Rules, the Company has a compliance period of 180 calendar days, or until May 1, 2023, to regain compliance with Nasdaq's minimum bid price requirement.