G Medical Innovations Holdings Ltd. Announces Receipt of Nasdaq Minimum Bid Notice

G Medical Innovations Holdings Co., Ltd.

G Medical Innovations Holdings Co., Ltd.

REHOVOT, ISRAEL, May 19, 2023 (Globe Newswire) — G Medical Innovations Holdings Ltd. (Nasdaq: GMVD) (the “Company”), a telemedicine, medical device and remote patient monitoring company, today announced that it received a written notice from the U.S. Government on May 15, 2023 (the “Notice ) has been announced as received. Nasdaq Stock Market LLC, indicating that the Company has not complied with the minimum bid price requirements for continued listing set forth in Nasdaq Listing Rule 5550(a)(2). This requirement mandates that listed securities maintain a minimum bid price of $1.00 per share. . Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days to restore compliance with the minimum bid price requirement. This notice will not have an immediate effect on our listing on the NASDAQ or trading of our common stock and, during the potentially extended grace period, our common stock will continue to trade on the Nasdaq Capital Markets under the symbol “GMVD.” be traded. Terms set by the Nasdaq Public Hearing Panel (“Panel”) relating to Nasdaq shareholder equity requirements, based on a letter received from the Panel on May 11, 2023, as the Company explained in its May press release shall be satisfied by our company. 15th, 2023.

According to the notice, the company has until November 13, 2023 to restore compliance with the minimum bid requirement. We may restore compliance at any time during this 180-day period if the closing bid price for our common stock is at least $1.00 for at least ten consecutive business days. In this case, we will be provided with written confirmation. Comply and this issue will be closed. If the Company fails to regain compliance after the initial 180-day period, the Company may be subject to an additional 180-day compliance period, subject to the market price of its public shares and all other initial continuing listing requirements. may be able to receive Nasdaq Capital Market listing criteria, excluding minimum bid price requirements. In this case, we must notify you in writing of our intention to correct the deficiency during the second compliance period.

About G Medical Innovations Holdings Co., Ltd.

G Medical Innovations Holdings Ltd. is a healthcare company engaged in developing next-generation mHealth and telemedicine solutions and monitoring service platforms. The Company’s solutions and services enable consumers, patients and healthcare providers to better monitor, manage and improve clinical and personal health status, especially for those suffering from cardiovascular disease (CVD), pulmonary disease and diabetes. It’s something to do. The company’s current product line consists of Prizma medical devices (or Prizma), clinical-grade devices that can transform virtually any smartphone into a medical monitoring device, allowing both healthcare providers and individuals to Allows you to monitor, manage and share your equipment. Signs and biometric indicators. The Company’s Enhanced Holter and Monitoring Cardiac Telemetry Patch Service is a multi-channel, patient-worn biosensor with algorithms for real-time analysis and transmission of continuous electrocardiogram (i.e., ECG) data acquisition, including prolonged QT syndrome detection. is using Additionally, the company is developing a wireless vital signs monitoring system (VSMS). It is expected to provide full and continuous real-time monitoring of a wide range of vital signs and biometrics. Its monitoring services include providing Independent Diagnostic Testing Facility (i.e. IDTF) monitoring services and private monitoring services.

In the second half of 2022, the company expanded its business activities into a new business area of ​​home clinical test kits. In the third quarter of 2023, we will allow users to purchase sample collection kits in retail stores or online, collect samples in the comfort and privacy of their homes, and send them to our accredited laboratory for analysis. We expect to be able to mail to . The company has developed 31 test kits that can test for a wide range of health conditions including hormones, sexually transmitted diseases, colon cancer, nutrition, food sensitivities and allergies. Additionally, the company’s pipeline includes the development of additional kits for drug detection, heavy metals and toxicology. The data we receive from both vital signs and laboratory tests is used by our company to enable users to create a personal electronic medical record and manage their health in one place that is available anytime, anywhere without relying on a medical institution. reflects the vision of

For more information on G Medical’s innovations, please visit https://gmedinnovations.com/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “plan,” and similar expressions of such words or variations are intended to identify forward-looking statements. . For example, the Company uses forward-looking statements in this press release in discussing the restoration of compliance with Nasdaq’s continued listing requirements and the timing and effectiveness thereof. Because such actions address future events and are based on our current expectations, they are subject to various risks and uncertainties and our actual results, performance and achievements may not be guaranteed in this document. may differ materially from what is stated or implied by the description. press release. Forward-looking statements included or implied in this press release are subject to other risks and uncertainties, many of which are beyond our control and which may be disclosed in our annual reports. Includes risks and uncertainties set forth in the Risk Factors section of Form 20-F. SEC filings filed with the Securities and Exchange Commission (“SEC”) on May 16, 2023 for the year ended December 31, 2022 and thereafter. Except as otherwise required by law, we do not make revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. We are not obligated to publish it. References and links to websites are provided as a convenience and the information contained in such websites is not incorporated by reference into this press release.

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G Medical Innovations Holdings Co., Ltd.

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