Cn Energy shares surge 13.65% after-hours after announcing framework agreement to acquire 82% of Blessing Logistics for $2M in shares.

CN Energy Group Inc. (CNEY) surged 13.65% in after-hours trading following the announcement of a framework agreement to acquire 82% of Blessing Logistics Ltd., an Alberta-based oil trading company, for $2 million in Class A shares. The proposed acquisition, if finalized, aligns with CNEY’s strategic expansion into North American energy trading and upstream investments, leveraging Blessing Logistics’ crude oil export licenses and CNPC trading qualifications. The agreement, subject to due diligence and regulatory approvals, reflects CNEY’s intent to strengthen its market position in the energy sector, directly correlating with the stock’s significant after-hours rally. Other recent news, including Nasdaq compliance challenges and a robotics subsidiary’s award, did not drive the immediate price movement.