CN Energy Group (NASDAQ:CNEY), a manufacturer of activated carbon and biomass energy, announced Monday it has signed a definitive Share Purchase Agreement to acquire 100% of Blessing Logistics for $2 million.
The move marks a significant strategic pivot for the Lishui, China-based company as it looks to diversify into the North American energy trading sector.
Under the terms of the agreement, CNEY will satisfy the $2 million consideration through the issuance of Class A ordinary shares.
The specific number of shares will be determined by the five-day volume-weighted average price (VWAP) of CNEY stock immediately preceding the closing date.
The transaction is expected to close by March 31, 2026, pending customary closing conditions and regulatory approvals.