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LeddarTech Announces Receipt of NASDAQ Deficiency Notice

QUEBEC CITY, March 21, 2023 (GLOBE NEWSWIRE) -- LeddarTech Inc. ("LeddarTech" or the "Company"), a global leader in the development and manufacturing of solid-state LiDAR sensor and algorithm solutions, today announced that it has received a deficiency notice from the NASDAQ Stock Market LLC ("NASDAQ") stating that the Company is not in compliance with NASDAQ Listing Rule 5250(c) due to the Company's failure to timely file its annual report on Form 10-K for the fiscal year ended December 31, 2022.

The deficiency notice indicates that the Company has until April 10, 2023 to submit a plan to regain compliance with the NASDAQ listing rules. If the Company fails to submit a plan or fails to regain compliance with the NASDAQ listing rules, its shares may be subject to delisting.

LeddarTech is diligently working to complete and file its annual report as soon as possible. The Company is committed to maintaining its NASDAQ listing and is taking all necessary steps to ensure compliance with the NASDAQ listing rules.

About LeddarTech LeddarTech is a global leader in the development and manufacturing of solid-state LiDAR sensor and algorithm solutions. The Company's technology is used in a wide range of applications, including autonomous vehicles, smart homes, and industrial automation. LeddarTech has developed a comprehensive and unique approach to LiDAR sensor development, which includes the design, manufacturing, and testing of high-performance, solid-state LiDAR sensors, as well as the development of sophisticated algorithms to extract meaningful data from the sensor's output. The Company has a strong track record of innovation and has been recognized for its achievements in the field of LiDAR technology.