Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously reported, on July 25, 2022, Elys Game Technology Corp. (the
"Company") received written notice from the Listing Qualifications Department of
The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the
preceding 30 consecutive business days (June 9, 2022 through July 22, 2022), the
Company's common stock did not maintain a minimum closing bid price of $1.00
("Minimum Bid Price Requirement") per share as required by Nasdaq Listing Rule
5550(a)(2). The Company was provided 180 calendar days, or until January 23,
2023, to regain compliance.
The Company did not regain compliance with the Minimum Bid Price Requirement by
January 23, 2023; however, on January 24, 2023, the Company received written
notification from Nasdaq granting the Company's request for a 180-day extension
to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be
achieved automatically and without further action if the closing bid price of
the Company's common stock is at or above $1.00 for a minimum of ten consecutive
business days at any time prior to July 24, 2023, Nasdaq will notify the Company
that it has regained compliance with the Minimum Bid Price Requirement and the
matter will be closed.
If the Company does not regain compliance with the Minimum Bid Price Requirement
by July 24, 2023, Nasdaq will provide written notification to the Company that
its common stock will be delisted. At that time, the Company may appeal the
relevant delisting determination to a hearings panel pursuant to the procedures
set forth in the applicable Nasdaq Listing Rules. However, there can be no
assurance that, if the Company does appeal the delisting determination by Nasdaq
to the hearings panel, that such appeal would be successful.
The Company intends to actively monitor the bid price of its common stock and
will consider available options to regain compliance with the Nasdaq listing
requirements, including such actions as effecting a reverse stock split to
maintain its Nasdaq listing.
Nasdaq's extension notice has no immediate effect on the listing or trading of
the Company's common stock, which will continue to trade on the Nasdaq Capital
Market under the symbol "ELYS".
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 23, 2023, Victor Salerno provided notice of his decision to resign
from the Board of Directors of the Company, effective immediately. Mr. Salerno's
resignation letter did not state any reason for the resignation.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Exhibit Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).© Edgar Online, source Glimpses
ELYS BMG GROUP, INC. 
