BEDMINSTER, N.J.--(BUSINESS WIRE)--June 5, 2002--PURE WORLD, INC. (PURW - NASDAQ) ("Pure World" or the "Company") announced today that the Nasdaq Stock Market has approved the Company's request to transfer its common stock to the Nasdaq SmallCap Market from the Nasdaq National Market effective June 6, 2002. Pure World's stock will continue to trade under the symbol "PURW." The Company requested the transfer to the Nasdaq SmallCap Market because it was unable to meet the Minimum Market Value of Publicly Held Shares and the Minimum Bid Price requirements for continued listing on the Nasdaq National Market as set forth in Marketplace Rules 4450(e)(1) and 4450(e)(2), respectively. The Nasdaq SmallCap Market has the same Minimum Bid Price requirement, but the Company has until August 13, 2002 to demonstrate compliance. If Pure World has not demonstrated compliance by August 13, 2002 the Company may be eligible for an additional grace period of 180 days in which to demonstrate compliance because Pure World's stockholders' equity currently exceeds the amount required for initial inclusion on the Nasdaq SmallCap Market.
Pure World has 7,573,634 shares issued and outstanding.
This Press Release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors. Pure World cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date.