China Jo-Jo Drugstores Regains Compliance with Nasdaq Minimum Bid Price Requirement

China Jo-Jo Drugstores, Inc., a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, announced that it has received notification from the Listing Qualifications Department of The Nasdaq Stock Market that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which concerns minimum bid price listing requirements.

As previously disclosed, on October 16, 2020, Nasdaq notified the Company that its common stock had failed to maintain a minimum bid price of $1.00 over 30 consecutive business days as required by the Nasdaq Listing Rules.

On December 17, 2020, Nasdaq provided confirmation to the Company that for the last 20 consecutive business days, from November 18 to December 14, 2020, the closing bid price of the Company's common stock had been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2).

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc. ("Jo-Jo Drugstores" or the "Company"), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale distributor of products similar to those carried in its pharmacies.