TOKYO, June 17, 2024 (GLOBE NEWSWIRE) -- Earlyworks Co., Ltd. (NASDAQ: ELWS) (the “Company” or “Earlyworks”), a Japanese company operating its proprietary private blockchain technology, Grid Ledgers System (“GLS”), received a written notification (the “Notification Letter”) from the Nasdaq Stock Market, LLC (“Nasdaq”) informing the Company that it has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).

东京，2024年6月17日（环球通讯社）--Earlyworks Co.，Ltd.（纳斯达克：ELWS）（“公司”或“Earlyworks”），一家经营其专有私有区块链技术Grid Ledgers System（“GLS”）的日本公司，收到了纳斯达克股票市场有限责任公司（“纳斯达克”）的书面通知（“通知函”），通知该公司已重新遵守纳斯达克上市规则5550（a）（2）（“最低出价要求”）中规定的继续上市的最低出价要求。

The Notification Letter confirmed that the Company’s ADSs on Nasdaq had traded above $1.00 per ADS for 20 consecutive business days from May 16, 2024 to June 14, 2024 and that the Company has regained compliance with the Minimum Bid Price Requirement. Nasdaq’s Determination to Continue the Listing of the Company’s ADSs As previously disclosed in the Company’s press release dated May 13, 2024, the Company received a staff determination letter from Nasdaq, on May 1, 2024, notifying the Company that, due to the Company’s failure to regain compliance with the Minimum Bid Price Requirement, Nasdaq had determined (the “Determination”) that the Company’s securities will be scheduled for delisting from Nasdaq unless the Company requests an appeal of the Determination to a Hearings Panel (the “Panel”).

通知函证实，从2024年5月16日至2024年6月14日，该公司在纳斯达克的美国存托股已连续20个营业日的每股美国存托股交易额超过1.00美元，并且该公司已重新遵守最低投标价格要求。纳斯达克决定继续公司美国存托股上市如公司2024年5月13日的新闻稿所披露，公司于2024年5月1日收到纳斯达克的员工决定信，通知公司，由于公司未能重新遵守最低投标价格要求，纳斯达克已决定（以下简称“决定”）公司证券将被安排从纳斯达克退市，除非公司要求向听证会小组（以下简称“小组”）上诉该决定。

On May 7, 2024, the Company appealed the Determination and requested a hearing before the Panel. On May 7, 2024, the Company was notified that the hearing before the Panel had been scheduled on June 18, 2024. On May 13, 2024, the Company requested for participation in the expedited review process and submitted a bid price compliance plan to the Panel.

2024年5月7日，该公司对裁决提出上诉，并要求在专家组面前举行听证会。2024年5月7日，该公司被告知，专家组的听证会计划于2024年6月18日举行。2024年5月13日，该公司要求参与快速审查过程，并向专家组提交了投标价格合规计划。

On May 25, 2024, the Company received the Panel’s decision that the Company was granted an exception until May 31, 2024, .

2024年5月25日，该公司收到了专家组的决定，即该公司被允许在2024年5月31日之前享有例外。