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Pineapple Financial Inc. Responds to NYSE Commencement of Proceedings to Delist

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Pineapple Financial (PAPLF) faces NYSE delisting proceedings after its stock price fell below $0.10, triggering Section 1003(f)(v) of the NYSE American Company Guide. The company attributes the price decline to alleged false and malicious information that led to a trading halt. Trading of PAPLF shares has been suspended while the company works on compliance measures and appeals to the Listings Qualifications Panel. Management has proposed a reverse stock split, to be voted on at a special shareholder meeting in June 2025, as a potential solution. The company maintains that its operations remain strong and unaffected, emphasizing its continued focus on profitability and technological innovation while working with regulators to resume trading.
Pineapple Financial (PAPLF) sta affrontando la procedura di esclusione dalla quotazione alla NYSE dopo che il prezzo delle sue azioni è sceso al di sotto di 0,10$, attivando la Sezione 1003(f)(v) della Guida per le Società NYSE American. L'azienda attribuisce il calo del prezzo a presunte informazioni false e malevole che hanno causato la sospensione delle negoziazioni. La negoziazione delle azioni PAPLF è stata sospesa mentre la società lavora per adeguarsi alle normative e presenta ricorso al Panels di Qualificazione delle Quotazioni. La direzione ha proposto un split azionario inverso, che sarà sottoposto a votazione in un'assemblea straordinaria degli azionisti prevista per giugno 2025, come possibile soluzione. L'azienda sostiene che le sue operazioni rimangono solide e non influenzate, sottolineando il continuo impegno verso la redditività e l'innovazione tecnologica mentre collabora con i regolatori per riprendere le negoziazioni.
Pineapple Financial (PAPLF) enfrenta procedimientos de exclusión de la NYSE tras caer el precio de sus acciones por debajo de $0.10, activando la Sección 1003(f)(v) de la Guía para Empresas NYSE American. La compañía atribuye la caída del precio a información supuestamente falsa y malintencionada que provocó una suspensión de operaciones. La negociación de las acciones PAPLF ha sido suspendida mientras la empresa trabaja en medidas de cumplimiento y apela al Panel de Calificaciones de Listados. La dirección ha propuesto un split inverso de acciones, que será votado en una reunión especial de accionistas en junio de 2025, como posible solución. La compañía mantiene que sus operaciones siguen siendo sólidas e intactas, enfatizando su enfoque continuo en la rentabilidad y la innovación tecnológica mientras colabora con los reguladores para reanudar la negociación.
파인애플 파이낸셜(PAPLF)은 주가가 0.10달러 이하로 하락하여 NYSE American 회사 가이드의 섹션 1003(f)(v)가 발동됨에 따라 NYSE 상장폐지 절차에 직면해 있습니다. 회사는 가격 하락이 허위 및 악의적인 정보에 기인한 거래 중단 때문이라고 주장합니다. PAPLF 주식 거래는 중단된 상태이며, 회사는 규정 준수 조치를 진행하고 상장 자격 패널에 항소 중입니다. 경영진은 2025년 6월 특별 주주총회에서 투표할 예정인 역병합 주식을 잠재적 해결책으로 제안했습니다. 회사는 운영이 견고하고 영향받지 않았음을 유지하며, 규제 당국과 협력하여 거래 재개를 추진하는 동시에 수익성과 기술 혁신에 계속 집중하고 있음을 강조합니다.
Pineapple Financial (PAPLF) fait face à une procédure de radiation de la NYSE après que le cours de son action soit tombé en dessous de 0,10 $, déclenchant la section 1003(f)(v) du Guide des sociétés NYSE American. La société attribue cette baisse à des informations prétendument fausses et malveillantes qui ont conduit à une suspension des échanges. Le trading des actions PAPLF a été suspendu pendant que la société met en place des mesures de conformité et fait appel auprès du Panel des qualifications de cotation. La direction a proposé un fractionnement inversé des actions, qui sera soumis au vote lors d'une assemblée générale extraordinaire des actionnaires en juin 2025, comme solution potentielle. La société affirme que ses opérations restent solides et inchangées, mettant en avant son engagement continu envers la rentabilité et l'innovation technologique tout en collaborant avec les régulateurs pour reprendre les échanges.
Pineapple Financial (PAPLF) sieht sich einem Delisting-Verfahren an der NYSE gegenüber, nachdem der Aktienkurs unter 0,10 $ gefallen ist und damit Abschnitt 1003(f)(v) des NYSE American Company Guide ausgelöst wurde. Das Unternehmen führt den Kursrückgang auf angeblich falsche und böswillige Informationen zurück, die zu einem Handelsstopp führten. Der Handel mit PAPLF-Aktien wurde ausgesetzt, während das Unternehmen an Maßnahmen zur Einhaltung der Vorschriften arbeitet und Berufung beim Listings Qualifications Panel einlegt. Das Management hat eine Aktienzusammenlegung vorgeschlagen, die auf einer außerordentlichen Hauptversammlung im Juni 2025 zur Abstimmung steht, als mögliche Lösung. Das Unternehmen betont, dass seine Geschäftstätigkeit weiterhin stark und unbeeinträchtigt ist und legt den Fokus auf Profitabilität und technologische Innovation, während es mit den Regulierungsbehörden zusammenarbeitet, um den Handel wieder aufzunehmen.
Positive
  • Company taking immediate action with reverse stock split proposal to address listing compliance
  • Management claims core business operations remain strong and unaffected
  • Board and management actively working with NYSE and regulators to resolve the situation
Negative
  • Stock trading suspended on NYSE American
  • Share price fell below $0.10, triggering delisting proceedings
  • Alleged spread of false information has significantly impacted stock price
  • Potential delisting from NYSE American if compliance measures fail
  • Reverse stock split may lead to share dilution

Toronto, Ontario--(Newsfile Corp. - May 19, 2025) - Pineapple Financial (OTC Pink: PAPLF) announced today that it is working on certain curative actions to regain compliance to maintain its listing and appeal the NYSE's determination to delist its common shares to the Listings Qualifications Panel of the Exchange. The Company's common shares will be suspended from trading on the NYSE American during this time. The NYSE Regulation commenced delisting proceedings in connection with its determination and announced on May 14, 2025, that the Company is no longer suitable for listing pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the bid price falling under $.10.

Our stock price was impacted due to the spread of false and malicious information. This misinformation caused an immediate and significant impact on the stock price, which prompted the NYSE to halt trading.

We want to make it abundantly clear that this incident does not reflect the true state of Pineapple Financial, nor does it affect our operations in any way. Our business remains strong, and we continue to make significant strides towards our goals of profitability and technological innovation. The management team and Board of Directors are fully committed to resolving this matter swiftly and are working closely with the NYSE and regulators to ensure trading is resumed as soon as possible. A reverse stock split, ratified by the Board, is anticipated to resolve the situation, with a special shareholder meeting scheduled for June.

While we understand the concerns that this situation has raised, we are confident that this is a temporary challenge. We remain focused on our business growth, advancing our technology, and delivering long-term value for our shareholders. Our commitment to building a stronger, more resilient Pineapple Financial has never wavered.

We would like to take a moment to express our sincere gratitude to our shareholders for their continued trust and support during this time. Your belief in Pineapple Financial is invaluable, and we are confident that we will emerge from this stronger than before. We will continue to keep you informed every step of the way and appreciate your patience as we work through this matter.

Thank you for your unwavering support.

About Pineapple

Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

Follow us on social media:

Instagram: @pineapplemortgage @empoweredbypineapple

Facebook: Pineapple Mortgage

LinkedIn: Pineapple Mortgage

Safe Harbor Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

Media Contact:

For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.

Email: shubha@gopineapple.com

Related Links:

https://gopineapple.com

http://empoweredbypineapple.com

Investor Relations Contact:

For investor relations inquiries, please contact Pineapple Financial Inc.

ir@gopineapple.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252615

FAQ

Why is Pineapple Financial (PAPLF) being delisted from NYSE?

PAPLF faces delisting because its stock price fell below $0.10, violating Section 1003(f)(v) of the NYSE American Company Guide. Trading has been suspended while the company works on compliance measures.

What actions is PAPLF taking to prevent delisting from NYSE?

PAPLF is appealing to the Listings Qualifications Panel and has proposed a reverse stock split, which will be voted on at a special shareholder meeting in June 2025.

When will PAPLF stock resume trading on NYSE?

Trading remains suspended while the company works with NYSE and regulators. No specific date for resumption has been announced.

What caused PAPLF's stock price to fall below $0.10?

The company claims the price decline was caused by the spread of false and malicious information, which led to a trading halt.

How will the proposed reverse stock split affect PAPLF shareholders?

The reverse stock split, if approved at the June shareholder meeting, would reduce the number of outstanding shares to increase the share price and maintain NYSE listing compliance.
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