Alberton Acquisition Corporation Receives Notice from NASDAQ Regarding Late Filing of Form 10-Q | New
New York, June 11, 2021 (GLOBE NEWSWIRE) – Alberton Acquisition Corporation (NASDAQ: ALAC, the “Company”) today announced that it has received a notice from the NASDAQ stock market on June 9, 2021 informing the Company that, because its Form 10-Q for the period ended March 31, 2021 (the “2021 10-Q”) has not been filed with the Securities and Exchange Commission by the required due date of May 17, 2021, the Company has not is therefore not in compliance with the periodic filing requirements for maintaining listing set out in NASDAQ Listing Rule 5250 (c) (1).
This Notice received has no immediate effect on the listing or trading of the Company’s shares. The Nasdaq has given the company 60 calendar days, until August 9, 2021, to submit a plan to restore compliance. If the Nasdaq accepts the Company’s plan, then the Nasdaq may grant the Company up to 180 days from the prescribed deadline for the 2021 10-Q filing, or November 22, 2021, to reinstate the conformity.
The Company expects and intends to submit the compliance plan to NASDAQ by August 9, 2021.
This announcement is made in accordance with Nasdaq Listing Rule 5810 (b), which requires prompt disclosure of receipt of a notice of deficiency.
Alberton is a British Virgin Islands Blank Check Company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, asset acquisition or other business combination with one or more companies or entities. Alberton’s units, common shares and warrants are currently listed on the Nasdaq Capital Market under the symbols “ALACU”, “ALAC” and “ALACW, respectively.
SolarMax, a Nevada company, is an integrated solar energy company. Its principal executive offices are located at 3080 12th Street, Riverside, California 92507. The SolarMax website is http://www.solarmaxtech.com. Any information contained or accessible through the SolarMax website or any other website is not part of this press release.
Additional information on the proposed business combination and where to find it
Alberton has filed with the SEC a registration statement on Form S-4 (File No. 333-251825) with a power of attorney containing information on the proposed business combination and the respective activities of Alberton and SolarMax Technology. , Inc., a Nevada company (“SolarMax”) originally filed on December 30, 2020 and amended on February 10, 2021, and may be amended from time to time. Alberton will mail a final prospectus and a definitive proxy circular and other relevant documents after the SEC completes its review. Shareholders of Alberton and SolarMax are urged to read the preliminary prospectus and proxy circular and their amendments, as well as the final prospectus and circular of definitive solicitation of proxies in connection with the solicitation of proxies for the special meetings to be held to approve the proposed transaction, as these contain important information about Alberton, SolarMax and the proposed transaction. The final prospectus and the final proxy statement will be mailed to shareholders of Alberton and SolarMax on a record date to be established for voting on the proposed transaction. Shareholders will also be able to obtain a free copy of the Proxy Circular, as well as other documents containing information about Alberton, from the SEC’s website (www.sec.gov) or by calling 1-800- SEC-0330. Copies of the proxy statement and other documents filed with the SEC can also be obtained, free of charge, by directing a request to: Alberton Acquisition Corporation, Room 1001, 10 / F, Capital Center, 151 Gloucester Road, Wanchai , Hong Kong.
Caution Regarding Forward-Looking Statements
This press release includes “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects”, “believes”, “anticipates”, “intends to”, “estimates”, “research”, “could”, “could”, “plan”, “possible”, “Should” and variations and the like words and phrases are intended to identify such forward-looking statements, but the absence of such words does not mean that a statement is not forward-looking. These forward-looking statements relate to future events or future results, based on information currently available and reflect the current beliefs of Alberton management. A number of factors could cause actual events or results to differ materially from the events and results described in forward-looking statements. In addition, please refer to the “Caution Regarding Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Alberton Form S-4, its annual reports on Form 10-K, its quarterly reports on Form 10-Q for additional information identifying material factors that could cause actual results to differ materially from those anticipated in forward-looking statements. Unless expressly required by applicable securities laws, Alberton disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
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