Greencity Acquisition Corporation Announces Receipt of Notice from Nasdaq Regarding the Determination of Delisting By Investing.com

Greencity Acquisition Corporation (GRCY) (the “Company”) today announced that it has received a notice (“Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) on May 22, 2023. The Notice advised the Company that based on Staff’s review and the materials submitted by the Company on April 18 and May 12, 2023 (the “Submission”), the Staff has determined to deny the Company’s request for continued listing on The Nasdaq Capital Market.

Accordingly, the Company’s securities will be delisted from The Nasdaq Stock Market. In that regard, unless the Company requests an appeal of this determination, trading of the Company’s securities will be suspended at the opening of business on June 1, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC“), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

The Company may appeal Staff’s determination to a Hearings Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. Requests for a hearing and for an extended stay should be submitted electronically through the Nasdaq Listing Center, and must be received no later than 4:00 Eastern Time on May 30, 2023.