SHANGHAI, April 21,
2023 /PRNewswire/ -- Greencity Acquisition
Corporation (the "Company" or "Greencity") (NASDAQ:GRCY) today
announced that on April 21, 2023 the
Company signed a non-binding letter of intent ("LOI") with Bopai
Construction Technology (Shanghai)
Co., Ltd. (the "Bopai"), a company headquartered in China. Bopai has retained its own US legal
counsel and PCAOB qualified independent public accounting firm to
conduct the preparation for the potential business combination
transaction with the Company. The Company plans to enter into the
definitive business combination agreement (the "DA") with Bopai
upon the completion of due diligence on Bopai to Company's
satisfactory and Bopai's delivery of its audited financial
statements as required for the potential initial proxy
statement/registration statement filing.
About Bopai Construction Technology (Shanghai) Co., Ltd
Bopai is a scientific and technological innovation-oriented
enterprise dedicated to "Construction Industry 4.0". Under the wave
of industrialization and informatization in the construction
industry, the Bopai is committed to the building automation
industry. Through the world's leading 3D architectural printing as
the entry point and guarantee, the industrial production method
employed by Bopai is used to carry out intelligent and green
production of buildings. Popai owns 43 patents and its research and
development programs are backed by first-class universities to
ensure continuous technology innovation.
Bopai has the most complete 3D printing technology in the
industry, including 3D concrete printing and 3D rammed earth
printing, and provides supporting solutions for housing
construction, including structural columns, ring beams, floor
slabs, cloth reinforcement, water and electricity and others.
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.
View original
content:https://www.prnewswire.com/news-releases/greencity-acquisition-corporation-signed-loi-with-a-chinese-3d-printing-company-301803969.html
SOURCE GREENCITY ACQUISITION CORPORATION