Greencity Acquisition Corporation Shareholders Approve Extension of Deadline to Consummate Business Combination

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Greencity Acquisition Corporation (NASDAQ:GRCY) announced that shareholders voted to extend the deadline for consummating a business combination from October 28, 2022, to April 28, 2023. The extension was approved with 3,506,907 ordinary shares, representing 100% of voting shares present at the Annual General Meeting held on October 28, 2022. Following this decision, Greencity will file an amendment to its Memorandum and Articles of Association with the Cayman Islands Registrar of Companies.

SHANGHAI, Oct. 28, 2022 /PRNewswire/ -- Greencity Acquisition Corporation (the "Company" or "Greencity") (NASDAQ:GRCY) today announced that on October 28, 2022 the Company held an Annual General Meeting of its shareholders (the "Meeting") at which time the shareholders voted to extend the date (the "Extension") by which Greencity has to consummate a business combination from October 28, 2022 to April 28, 2023. The holders of 3,506,907 of the Company's ordinary shares present and entitled to vote at the Meeting, constituting 100% of ordinary shares present, voted in favor of the Extension. The Company will be promptly filing an appropriate amendment to its Memorandum and Articles of Association with the Registrar of Companies in the Cayman Islands.

About Greencity Acquisition Corporation

The Company is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any industry or sector, the Company intends to focus on businesses that have a connection to the Asian market.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements". Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the U.S. Securities and exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

 

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SOURCE Greencity Acquisition Corporation

FAQ

What was the outcome of Greencity's Annual General Meeting on October 28, 2022?

Shareholders voted to extend the deadline for a business combination from October 28, 2022, to April 28, 2023.

How many shares voted in favor of the extension at Greencity's Annual General Meeting?

A total of 3,506,907 ordinary shares voted in favor, which is 100% of the shares present.

What is the new deadline for Greencity to complete a business combination?

The new deadline is April 28, 2023.

What company ticker symbols are associated with Greencity Acquisition?

The ticker symbols for Greencity Acquisition Corporation are GRCY and GRCYU.

Why did Greencity Acquisition Corporation extend its business combination deadline?

The extension allows Greencity more time to find a suitable business to merge with or acquire.