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Plan Announced to Meet Listing Rules

FOR IMMEDIATE RELEASE

Plan Announced to Meet Listing Rules

BETHESDA, Md. — July 24, 2019 — The AdvisorShares Trust announced that it has received correspondence from Staff of Nasdaq Listing Qualifications advising that the AdvisorShares Dorsey Wright Micro Cap ETF is not currently in compliance with the requirement to maintain a minimum number of shares outstanding. Listing Rule 5735(d)(1)(A) provides that Nasdaq will establish a minimum number of Managed Fund Shares required to be outstanding at the time of initial listing. Listing Rule 5735(d)(2)(C)(v) provides that this minimum number also must be maintained for continued listing. While the number of shares is not explicitly stated in the rule, Staff believes that 100,000 is the appropriate minimum number because it is consistent with the minimum requirement established in Rule 5705(b)(6)(B) for listing Index Fund Shares and the minimum included in Rule 19b-4 filings required to list Managed Fund Shares that did not satisfy or pre-dated the generic listing requirements.

The Trust intends to maintain the listing of the Fund’s shares on the Nasdaq Global Market and bring the Fund into compliance with the exchange’s rules. In accordance with Nasdaq Listing Qualifications, the Trust plans to submit a written response containing data indicating that the fund is compliant or its plan to re-gain compliance. The Trust intends to submit such a response in a timely manner.

For financial professionals and investors requesting more information, please visit www.advisorshares.com or call an AdvisorShares at 1-877-THE-ETF1 (1-877-843-3831).

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus, a copy of which may be obtained by visiting the Fund’s website at www.advisorshares.com. Please read the prospectus carefully before you invest.

Foreside Fund Services, LLC, distributor.

The Fund is subject to a number of risks that may affect the value of its shares, including the possible loss of principal. Stock prices of microcap companies are significantly more volatile, and more vulnerable to adverse business and economic developments, than those of larger companies. Micro-cap stocks may also be thinly traded, making it difficult for the Fund to buy and sell them. There is no guarantee that the Fund will achieve its investment objective.

Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.

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