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NASDAQ Panel Grants Velocity’s Request for Continued Listing

Dépèche transmise le 23 avril 2009 par Business Wire

WESTPORT, Conn.--(BUSINESS WIRE)--Velocity Express Corporation (NASDAQ: VEXP), the nation’s largest provider of time definite regional delivery solutions, today announced that the NASDAQ Listing Qualifications Panel has granted the Company’s request for continued listing on The NASDAQ Capital Market. The Company’s continued listing on NASDAQ is subject to the Company’s compliance with certain conditions, including demonstration by the Company that it has regained compliance with NASDAQ’s minimum stockholders’ equity requirement of $2.5 million or with one of the alternative listing criteria, as set forth in NASDAQ Marketplace Rule 5550(b) (formerly Rule 4310(c)(3)) by August 3, 2009. While the Company is executing on its plan to regain compliance, there can be no assurance that the Company will be able to do so.

About Velocity Express

Velocity Express has one of the largest nationwide networks of regional, time definite, ground delivery service areas, providing a national footprint for customers desiring same day service throughout the United States. The Company's services are supported by a customer-focused technology infrastructure, providing customers with the reliability and information they need to manage their transportation and logistics systems, including a proprietary package tracking system that enables customers to view the status of any package via a flexible web reporting system.