CBL International Limited Announces $1.375 million Private Placement to Enhance Port Network and Alternative Energy Development
Summary
Teck Lim Chia, Chairman & CEO of Banle Group, commented, "The completion of this capital raise is a positive step forward for CBL. To ensure a smooth and orderly transition during the initial investment phase, certain provisions have been incorporated to temporarily restrict the transfer of shares.In connection with the private placement, CBL has also entered into a Registration Rights Agreement with the Purchasers. Banle Groups business activities are primarily focused in over 55 major ports covering Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Singapore, Taiwan, Thailand, Turkey and Vietnam, as of 15 May 2024. They involve known and unknown risks and uncertainties and are based on various assumptions, whether or not identified in this press release and on current expectations of BANLs management and are not predictions of actual performance. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.