SCOTTSDALE, Ariz., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the “Company”), The Original Lab-Grown Diamond Company™, a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, Lab-Grown Diamonds for jewelry and diamond materials for industrial uses, today reports that, as previously disclosed, the Company had a hearing scheduled for May 30, 2024 before a Nasdaq Hearings Panel (the “Panel”) regarding its plan to regain compliance with: (1) Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”); (2) Nasdaq Listing Rule 5250(f) (the “Fees Rule”); and (3) Nasdaq Listing Rule 5250(c)(1) (the “Filings Rule”). On June 07, 2024, the Company received a decision letter from the Panel of the Nasdaq Stock Market (“Nasdaq”). The Panel granted the Company’s request for continued listing on The Nasdaq Capital Market, subject to the following: 1) on or before July 29, 2024, the Company shall cure its filing delinquencies and demonstrate compliance with the Filings Rule; and 2) on or before August 30, 2024, the Company shall have demonstrated compliance with the Minimum Bid Price Rule, by evidencing a closing bid price of $ 1 or more per share for a minimum of ten consecutive trading sessions.