Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously reported, on August 17, 2022, Greencity Acquisition Corporation ("Company") received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that the Company was not in compliance with Listing Rule 5550(a)(3) (the "Minimum Public Holders Rule"), which requires the Company to have at least 300 public holders for continued listing on the NASDAQ Capital Market. The Notice stated that the Company had 45 calendar days to submit a plan to regain compliance with the Minimum Public Holders Rule.

On September 27, 2022, the Company submitted a compliance plan to Nasdaq. Based on the Company's submission, Nasdaq has determined to grant the Company an extension of time to regain compliance with the Rule. The terms of the extension are as follows: on or before February 13, 2023, the Company must file with Nasdaq documentation from its transfer agent, or independent source, that demonstrates that its ordinary shares have a minimum of 300 public holders. In the event the Company does not satisfy the terms, Nasdaq will provide written notification that its securities will be delisted. At that time, the Company may appeal the determination to a Listing Qualifications Panel.


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