Smart for Life provides update after Nasdaq delisting due to audit delays; reports plans to reapply to Nasdaq upon full compliance

MIAMI, Sept. 20, 2024 (GLOBE NEWSWIRE) — Smart for Life, Inc. (OTC: SMFL) (“Smart for Life” or the “Company”), a leading health and wellness leader specializing in the marketing and manufacturing of nutritional supplements and nutritional foods, today provided an update following its delisting from Nasdaq, primarily due to delays in completing its audit. The Company’s common stock will continue to be listed on the OTC Markets and its ticker symbol “SMFL” will remain unchanged. Management believes this move to the OTC Markets is temporary and the Company intends to reapply for listing once it is fully compliant with the listing requirements.

“We are working diligently to complete our audit and believe that several significant factors that contributed to the delay were beyond the control of management and the company,” said Darren Minton, CEO of Smart for Life. “Despite these challenges, we are committed to addressing the outstanding issues and returning to Nasdaq as soon as possible. The company continues to execute on its previously announced strategic plan, including the targeted acquisitions in our pipeline, as well as the completion of our successful restructuring program that resulted in a significant improvement in the company’s balance sheet and net shareholder equity. We remain confident in our long-term strategy for growth in the health and wellness market.”