Charge Enterprises Announces Decision Of Nasdaq Hearings Panel To Delist Common Shares As Of The Opening Of Business On February 29, 2024

Charge Enterprises, Inc. (NASDAQ:CRGE) ("Charge" or the "Company"), today announced that on February 20, 2024, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that trading of its common stock will be suspended as of the opening of business on February 29, 2024 (the "Delisting Letter").

The Company had previously been notified by Nasdaq on August 22, 2023, that it was no longer in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price per share for the Company's Common Stock had closed below $1.00 for the previous 30 consecutive business days. The Company had applied for an additional 180-day compliance period to regain compliance with Nasdaq Listing Rule 5550(a)(2) (the "Extension Request").

On February 20, 2024, the Company received written notice from Nasdaq that the staff of Nasdaq had denied the Extension Request. Nasdaq determined that the Company was not eligible for the Extension Request and reached its decision to commence delisting proceedings of the Common Stock because the closing bid price of the Company's common stock has closed below $0.10 and may soon trigger delisting under Nasdaq Listing Rule 5810(c)(3)(A)(iii). The Company does not intend to appeal the staff's determination and, accordingly, the Company expects that the Common Stock will be delisted at the opening of business on February 29, 2024.

The Company anticipates that after delisting, the Company's common stock will be quoted on the OTC Pink Market under the symbol "CRGE".