STATE COLLEGE, Pa., June 06, 2017 (GLOBE NEWSWIRE) — Rex Energy Corporation (Nasdaq:REXX) today announced that it has regained full compliance with the continued listing requirements for The Nasdaq Capital Market.
On May 30 2017, Rex Energy received notice from the Nasdaq Listing Qualifications department stating that because the company’s closing bid price of its common shares has been at or above $1.00 per share for 10 consecutive trading days, the company has regained compliance with the minimum bid price requirement under Listing Rule 5550 (a)(2) and Nasdaq now considers the matter closed.
“We are pleased to have regained compliance with Nasdaq’s listing requirements,” said Tom Stabley, President and CEO of Rex Energy. “We will continue to focus on the execution of our business plan to deliver solid growth and increase shareholder value.”
About Rex Energy Corporation
Headquartered in State College, Pennsylvania, Rex Energy is an independent oil and gas exploration and production company with its core operations in the Appalachian Basin. The company’s strategy is to pursue its higher potential exploration drilling prospects while acquiring oil and natural gas properties complementary to its portfolio.