SMTK Smartkem, Inc. - 8-K

Item 3.01. Other Events.

On April 21, 2026, SmartKem Inc.
(the “Company”) was formally notified that the Nasdaq Hearings Panel (the “Panel”) determined that the Company
has regained compliance with the stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(2) and has otherwise
evidenced compliance with all other applicable criteria for continued listing on The Nasdaq Capital Market. The Company remains subject
to a grace period, through September 1, 2026, to regain compliance with the bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).

The Company was also notified
that it will remain subject to a one-year Disretionary Panel Monitor pursuant to Nasdaq Listing Rule 5815(d)(4)(A). If the Company fails
to comply with any of the applicable continued listing criteria during the one-year period the Company would not be permitted to submit
a compliance plan nor would it be afforded an otherwise applicable grace period to regain compliance. Rather, the Nasdaq Listing Qualifications
Staff would issue a delist determination which the Company could then appeal by requesting a hearing before a Panel. Such request would
generally serve to stay any further suspension or delisting action pending the conclusion of the hearing process.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibits

Description

104

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