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IntelliPharmaCeutics noncompliant with Nasdaq minimum bid price rule

IntelliPharmaCeutics International Inc. received a noncompliance notice from Nasdaq Stock Market LLC, as the company's minimum bid price per share was below $1 for a period of 30 consecutive business days.

The company remains listed on the Nasdaq Capital Market and has 180 days, or until June 4, 2018, to regain compliance with Nasdaq's minimum bid price requirement.

IntelliPharmaCeutics received another noncompliance notice from Nasdaq in September, as the company's market value of listed securities failed to meet the minimum $35 million. The company has until March 19, 2018, to regain compliance with this rule.

The company is also listed on the Toronto Stock Exchange.