Caravelle International (CACO) has released an update.
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Caravelle International Group has finalized a settlement with two institutional investors, terminating previous securities agreements by repurchasing a $1.5 million convertible note and cancelling associated warrants for common shares, for a payment of $1.375 million and the issuance of 300,000 ordinary shares. This move is seen by the company’s management as a positive step towards Caravelle’s growth, emphasizing their focus on their traditional international shipping operations and their new CO-Tech business in ocean technology.
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