CN Energy to Buy Alberta Oil Trading Firm in $2M All-Stock Deal

CN Energy Group. Inc. (NASDAQ:CNEY, ", CNEY", or the ", Company", ))) today announced that it has entered into a Share Purchase Agreement to acquire 100% of the outstanding shares of Blessing Logistics Ltd. ("Blessing Logistics"), an oil trading company incorporated in Alberta.

Under the terms of the agreement, the total purchase consideration is USD $2.0 million, expected to be satisfied through the issuance of Class A Ordinary Shares of CNEY. The number of shares to be issued will be determined based on the volume-weighted average price of CNEY's Class A Ordinary Shares for the five consecutive trading days immediately preceding the closing date, subject to adjustment as provided in the agreement.

The closing of the transaction is subject to customary closing conditions and is expected to occur on or before March 31, 2026.

Founded in 2015, Blessing Logistics is a registered oil company with the Alberta Energy Regulator (AER) and holds Canadian crude oil export licenses. The company is also recognized as a qualified trader within the CNPC system, and is engaged primarily in oil trading as well as crude oil and asphalt exports.

The proposed acquisition is expected to provide CNEY with a fully operational North American entity and critical regulatory licenses supporting the Company's strategic expansion into the North American oil market. The integration of Blessing Logistics is expected to strengthen CNEY's operational capabilities and enhance its participation in global crude oil trading and export activities.