Bay Street News

Connexa Regains Full Nasdaq Compliance

Windsor Mills, MD, July 22, 2024 (GLOBE NEWSWIRE) — Connexa Sports Technologies Inc. (Nasdaq: YYAI), the owner of Slinger Bag and Gameface AI, announces receipt of Nasdaq confirmation that the Hearing Panel, convened for July 24, 2024, to review Connexa’s bid price compliance has been canceled and the delisting determination withdrawn.

Following the June 27, 2024 reverse split of its common stock (the “Reverse Split”) and subsequent 10-day bid price remaining above $1, Connexa has now regained full Nasdaq compliance.

“As already made public and approved by Connexa shareholders, the company is in the process of effecting a change in control, which will result in Yuanyu Enterprise Management (YYEM) becoming a subsidiary and Slinger Bag becoming a private company. As Connexa is now in full compliance with Nasdaq, we expect that the YYEM transaction can proceed to a close, subject to Nasdaq’s listing approval of the incoming YYEM entity,” commented Mike Ballardie, Connexa CEO.

More detailed information on Connexa Sports Technologies and Slinger Bag can be found at www.connexasports.com

About Connexa Sports Technologies:

Connexa Sports is a leading connected sports company delivering products, technologies, and Sport-as-a-Service across a range of sport verticals. Connexa’s mission is to reinvent sports through technological innovation driven by an unwavering focus on today’s sports consumer.

CNXA Contact Information:
investors@connexasports.com
www.connexasports.com

About Yuanyu Enterprise Management Co., Limited

Yuanyu Enterprise Management Co., Limited (YYEM) operates across the rapidly emerging love & marriage sector. YYEM owns numerous patents, technologies and algorithms that drive its big data and matchmaking analyses, deriving its current revenues from royalties. YYEM has multiple licensing agreements in place for non-Asia regions and, in addition, plans to open subsidiary companies in core Asia markets.

YYEM Contact Information:
info@yuanyuenterprise.com
www.yuanyuenterprise.com

Additional Information and Where to Find It

The Company’s stockholders will be able to obtain relevant documents filed with the SEC from the SEC’s website at www.sec.gov or from the Company’s website at https://www.connexasports.com/investor-relations/

Forward-Looking Statements

This press release contains forward-looking statements. Statements that are not historical facts, including statements about beliefs or expectations, are forward-looking statements. These statements are based on plans, estimates, expectations and projections at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described in this press release include, among others:

Forward-looking statements included in this report speak only as of the date each statement is made. Neither the company nor any person undertakes any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.


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