 NEW YORK, New York, May 28, 2021 GLOBE NEWSWIRE -- Tuscan Holdings Corp. NASDAQ: THCB Tuscan or the Company, a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, announced that on May 28, 2021, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market Nasdaq advising that because the Company failed to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021 the Form 10-Q, the Company was not in compliance with Nasdaq Listing Rule 5250c1 the Rule. Nasdaq has informed the Company that it has until July 26, 2021 to submit a plan to regain compliance with the Rule, provided that the Company will not be required to submit a plan if the Form 10-Q is filed before such date. If Nasdaq approves the Companys plan, it has the discretion to grant the Company an extension of up to 180 calendar days from the due date of the Form 10-Q or until November 22, 2021 to regain compliance. 