Safe & Green Holdings enters merger to boost equity ~$60M, aims to regain Nasdaq compliance

OLENOX INDUSTRIES INC.

Entered Agreement and Plan of Merger with New Asia Holdings Inc. (NAHD); NAHD and its subsidiaries Olenox Corp. and Machfu Inc. to become indirect wholly owned subsidiaries.
Transaction expected to increase stockholders' equity by approximately $60 million, addressing Nasdaq's minimum $2.5 million equity requirement.
Company is awaiting Nasdaq confirmation of compliance with Listing Rule 5550(b)(1).

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