BRAINERD, Minn., Sept. 30, 2008 (GLOBE NEWSWIRE) -- Nature Vision, Inc. (the "Company") received a notice from The Nasdaq Stock Market indicating that the Company (Nasdaq:NRVN) is in violation of the minimum bid price requirement for continued listing set forth in Nasdaq Marketplace Rule 4310(c)(4) as the bid price of the Company's common stock closed below $1.00 per share for 30 consecutive days.
The notice from Nasdaq further stated that the Company will have 180 calendar days, or until March 24, 2009, to regain compliance with Rule 4310(c)(4) by demonstrating a closing bid price of $1.00 or more for at least ten consecutive business days. If the Company cannot demonstrate compliance with Rule 4310(c)(4) by March 24, 2009, subject to certain limited exceptions, the Company's common stock will be delisted from The Nasdaq Capital Markets and thereafter would be quoted on the Over-the-Counter Bulletin Board.
Nature Vision, Inc., NRVN, a publicly held corporation headquartered in Brainerd, Minnesota, is a multi-branded outdoor recreation products company. Their current portfolio includes Aqua Vu, Marcum, Fish TV, Cass Creek, Fish Hawk, Castaic and others. Founded in 1997, Nature Vision continues to reinvent the outdoor experience with true innovation.
SAFE HARBOR STATEMENT
Certain matters discussed in this press release are "forward-looking statements," intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward-looking statements, and often contain words such as "expects," "anticipates," "intends," "plan," or "will." Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include changes in consumer spending patterns; our success in implementing its strategic plan, including its focus on innovation; actions of companies that compete with us; our success in managing inventory; movements in foreign currencies or interest rates; the success of suppliers and customers; the ability to deploy our capital successfully; adverse weather conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.