Delisting Determination, The Nasdaq Stock Market, LLC, April 12, 2023,
The Very Good Food Company Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common shares of The Very Good Food Company Inc.,
effective at the opening of the trading session on April 24, 2023.
Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rule 5450(a)(1). The Company was
notified of the Staff determination on November 15, 2022.
On November 17, 2022, the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Rule 5815. A Panel hearing was held on
December 15, 2022. On January 5, 2023, the Company received an
additional delist determination for its failure to hold an
annual meeting of shareholders.  On January 10, 2023, upon review
of the information provided by the Company, the Panel determined to
grant the Company request to remain listed in the Exchange subject to
a series of milestones. On January 18, 2023, Staff issued an
additional delist determination letter for the Company failure
to meet the audit commmittee composition requirements and for a recent
announcement that the Company had been placed into receivership pursuant
to an Order of the Supreme Court of British Columbia.
In light of such developments and the Company failure to meet the terms
of the January 10 decision, the Panel issued a final decision denying the
Company continued listing and notified the Company that trading in
the Company securities would be suspended on January 23, 2023.
The Company did not appeal the Panel decision to the Nasdaq Listing
and Hearing Review Council (Council) and the Council did not call
the matter for review. The Staff determination to delist the Company
became final on January 23, 2023.