CBL International Secures $1.375 Million for Growth

CBL International Limited Expands Its Port Network and Energy Initiatives

CBL INTERNATIONAL LIMITED
(Incorporated in Cayman Islands with limited liabilities)
(NASDAQ: BANL)

CBL International Limited (the "Company" or "CBL") (NASDAQ: BANL), the listing vehicle of the reputable marine fuel logistic company, Banle Group, announced a pivotal development in its operations. The company has successfully completed a private placement generating approximately $1.375 million from an accredited investor. This initiative is aligned with CBL's strategic plan to boost its service offerings in port network development and alternative energy sectors.

Details of the Private Placement

The closing conditions outlined in the Securities Purchase Agreement have been fulfilled, marking a significant milestone for the company. The issuance of 2,500,000 shares of common stock has been finalized. These efforts are part of CBL’s ongoing aim to fuel its growth and innovation in the rapidly evolving energy landscape.

Use of Proceeds

The capital raised through this private placement will be strategically allocated to support several key initiatives. CBL plans to focus on expanding its network development, advancing its programs in alternative energy, and biofuel supply development. Moreover, the funds will assist in future acquisitions and provide necessary working capital to sustain general corporate activities.

Statements from Leadership

Mr. Teck Lim Chia, the Chairman & CEO of Banle Group, expressed optimism regarding the capital raise, stating that it represents a solid advancement for CBL. The lack of warrants in this investment signifies a robust confidence from investors in the company’s strategic direction. This funding is expected to catalyze growth in new energy projects, cementing CBL's competitive position in this dynamic market.

Long-Term Strategic Vision

The Securities Purchase Agreement has been thoughtfully structured to underpin long-term stability and growth for CBL. Provisions have been implemented to temporarily restrict the transfer of shares, ensuring an orderly transition during the initial investment phase.

Registration and Compliance Initiatives

To further ensure transparency, CBL has entered into a Registration Rights Agreement with the investors involved in the private placement. The company is committed to filing a registration statement with the appropriate regulatory authorities shortly after the closing of this transaction. These efforts support CBL’s commitment to enhance investor relations and compliance with relevant regulations.

Stock Registration Details

The common stock issued as part of this private placement remains unregistered under the Securities Act of 1933 and will only be available for sale in compliance with applicable registration guidelines.

About Banle Group

CBL International Limited serves as the listing vehicle of Banle Group, a distinguished marine fuel logistic company founded in 2015. Banle Group provides comprehensive vessel refueling solutions across the Asia-Pacific region. With operations in over 55 major ports, their focus extends to countries including Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Singapore, Taiwan, Thailand, Turkey, and Vietnam. The group actively champions alternative fuels and carries ISCC EU and ISCC Plus certifications, reinforcing its commitment to sustainable practices.

Contact Information

For further inquiries or information regarding this transaction, interested parties can reach CBL International Limited through the following contacts:

Email: investors@banle-intl.com

Strategic Financial Relations Limited

Shelly Cheng Tel: (852) 2864 4857
Iris Au Yeung Tel: (852) 2114 4913
Email: sprg_cbl@sprg.com.hk

Frequently Asked Questions

What is CBL International Limited?

CBL International Limited, trading as NASDAQ: BANL, is a marine fuel logistics company committed to innovative energy solutions.

How much capital has CBL raised through the private placement?

CBL International has successfully raised approximately $1.375 million through a private placement.

What will the funds from the private placement be used for?

The raised funds will enhance network development, support alternative energy initiatives, and provide working capital for future acquisitions.

Who commented on the completion of the capital raise?

Mr. Teck Lim Chia, Chairman & CEO of Banle Group, shared positive insights regarding the capital raise and its implications for growth.

Is the stock from the private placement registered?

The shares issued in the private placement are unregistered and are subject to specific regulatory conditions before being offered for sale.

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