Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On April 10, 2023, Murphy Canyon Acquisition Corp. (the "Company") received a
letter (the "Letter") from the Listing Qualifications Department of The Nasdaq
Stock Market LLC ("Nasdaq") that, for the previous 30 consecutive business days,
the Market Value of Listed Securities ("MVLS") for the Class A Common Stock of
the Company, par value $0.0001 per share ("Class A Common Stock"), was below the
$50 million minimum MVLS requirement for continued listing on the Nasdaq Global
Market under Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Rule"). The Letter is
only a notification of deficiency, not of imminent delisting, and has no current
effect on the listing or trading of the Company's securities.
In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company will have 180
calendar days, or until October 9, 2023 (the "Compliance Date"), to regain
compliance with the MVLS Rule. To regain compliance with the MVLS Rule, the MVLS
for the Class A Common Stock must be at least $50 million for a minimum of 10
consecutive business days at any time during this 180-day period. If the Company
regains compliance with the MVLS Rule, Nasdaq will provide the Company with
written confirmation and will close the matter.
If the Company does not regain compliance with the MVLS Rule by the Compliance
Date, Nasdaq will provide notice that the Class A Common Stock will be subject
to delisting. In the event of such notification, the Nasdaq rules permit the
Company an opportunity to appeal Nasdaq's determination. The Letter notes that
the Company may be eligible to transfer the listing of its securities to the
Nasdaq Capital Market (provided that it then satisfies the requirements for
continued listing on that market). The Company is monitoring the MVLS of its
Class A Common Stock and will consider options available to it to potentially
achieve compliance.
© Edgar Online, source Glimpses
MURY CANYPAR 
