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Cyanotech Receives Non-Compliance Notice from Nasdaq — Company has 180 days to comply

KAILUA KONA, Hawaii (December 6, 2005) — Cyanotech Corporation (Nasdaq Capital Market: CYAN), a world leader in producing high-value nutrition and health products from microalgae, received on December 1, 2005 notice from Nasdaq that the bid price of the Company’s stock has closed below the minimum $1.00 per share requirement for the last 30 consecutive business days as required by NASDAQ Marketplace Rule 4310(c)(4). Therefore, the Company will be provided 180 calendar days, or until May 30, 2006, to regain compliance by virtue of the bid price closing at $1.00 per share or more for a minimum of 10 days. If compliance cannot be demonstrated by May 30, 2006, then Nasdaq staff will determine whether the Company meets the Nasdaq initial listing criteria, as set forth in Marketplace Rule 4310(c), except for the bid price requirement. If it meets the initial listing criteria, Nasdaq staff will notify the Company that it has been granted an additional 180 calendar day compliance period. Cyanotech currently meets the initial listing criteria.


Contact:

Bruce Russell: [email protected]
(310) 559-4955 x101



 

 
 
 
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