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CHARLOTTE, N.C., Jan. 14, 2014 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitizing products and services, announced today that its request to transfer its listing to the NASDAQ Capital Market from the NASDAQ Global Market has been approved by the Listing Qualifications department of The NASDAQ Stock Market ("NASDAQ"). Swisher's securities will begin trading under its same ticker on the NASDAQ Capital Market effective at the opening of trading on Wednesday, January 15, 2014.
The transfer of Swisher's listing to the NASDAQ Capital Market is not expected to have any impact on trading in Swisher's shares.
In connection with the transfer, Swisher has filed for an additional 180 day period to regain compliance with the minimum bid price requirement of $1.00 per share set forth in NASDAQ Listing Rule 5450(a)(1). If at any time during this period the closing bid price of Swisher's common stock is at least $1.00 for a minimum of ten consecutive business days, Swisher will receive a written confirmation of compliance from NASDAQ and the matter will be closed. As Swisher noted in its press release dated July 23, 2013, if necessary to cure the deficiency, it will effect a reverse stock split during this additional 180 day compliance period.
At present, Swisher will work to regain compliance during this additional 180 day compliance period and will actively monitor its performance with respect to the listing standards.
Cautionary Statement on Forward-Looking Information
All statements other than statements of historical fact contained in this press release constitute "forward-looking information" or "forward-looking statements" within the meaning of the U.S. federal securities laws and the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this press release unless otherwise stated. All statements other than historical facts are, or may be, deemed to be forward looking statements. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.