BitNile Metaverse Regains Compliance With The Nasdaq Voting Rights Rule

BitNile Metaverse, Inc. (NASDAQ:BNMV) ("BitNile Metaverse" or the "Company"), announced today that it has regained compliance with the Nasdaq Voting Rights Rule.

On June 21, 2023, the Nasdaq Stock Market ("Nasdaq") notified the Company that the issuance of the Series B and Series C Preferred Stock violated Nasdaq's voting rights rule under listing Rule 5640 (the "Voting Rights Rule"). On September 28, 2023, the Company amended the Certificates of Designation for both the Series B and Series C Preferred Stock to remove all voting rights from these series. As a result, the Company has regained compliance with the Voting Rights Rule.

"We are pleased to regain compliance with Nasdaq's Voting Rights Rule and look forward to a continued healthy relationship with the exchange. The Company regaining compliance will allow us to focus on our continued mission of bringing new and interesting experiences to our growing Metaverse platform, BitNile.com, Inc.," stated Milton "Todd" Ault, III, Executive Chairman of BitNile.com, Inc. ("BNC"), the Company's principal subsidiary.