CN Energy shares surge 41.76% premarket after announcing proposed acquisition of Blessing Logistics Ltd.

CN Energy Group Inc. surged 41.76% in premarket trading following the announcement of a framework agreement to acquire approximately 82% of Blessing Logistics Ltd., a Canadian oil trading company. The proposed transaction, valued at around US$2.0 million, aligns with CNEY’s strategic expansion into the North American energy sector, leveraging Blessing Logistics’ export licenses and trading qualifications. The company highlighted the potential for oil trading and upstream investment opportunities through the acquisition, positioning it as a significant step in its global growth plans. The interim CEO emphasized the transaction’s alignment with CNEY’s long-term objectives, reinforcing investor optimism. The stock’s sharp rise reflects market anticipation of expanded energy market access and operational diversification, though the deal remains subject to due diligence, regulatory approvals, and definitive agreement terms.