Warrantee receives non-compliance letter from Nasdaq

Warrantee announced that the Company received a letter from the Listings Qualifications Department of the Nasdaq Stock Market on October 13, notifying the Company that it is not in compliance with the minimum bid price requirement as set forth under Nasdaq Listing Rule 5550 for continued listing on Nasdaq. This press release is issued pursuant to Nasdaq Listing Rule 5810, which requires prompt disclosure upon the receipt of a deficiency notification. The Company intends to monitor the closing bid price of its ADSs and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding ADSs, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.