Safe & Green regains Nasdaq compliance via Olenox merger; equity increased ~$60M

OLENOX INDUSTRIES INC.

Nasdaq Panel closed listing matter after Company satisfied minimum equity standard (Rule 5550(b)(1)).
Completed first stage of Olenox Corp. merger, increasing stockholders' equity by approximately $60 million.
Conversion of preferred stock issued in merger requires shareholder approval and will trigger a change of control.
Company will file initial listing application for combined entity upon change of control.
Securities will continue trading on Nasdaq Capital Market.

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