Mar. 20 at 4:37 PM
$IBG (NASDAQ:IBG) announced an update regarding its proposed merger with BlockFuel Energy, targeting a closing in the first quarter of 2026, subject to clearances and closing conditions. The parties are working to establish a vertically integrated system that monetizes hydrocarbons through traditional sales and digital energy applications. Ten wells have resumed production, and management plans to restart seven more by the end of the month, boosting active output and available gas volumes. BlockFuel intends to complete its first oil and gas sales in February 2026, with initial sales expected before March 31, providing near-term cash flow visibility following the closing.
https://finance.yahoo.com/news/innovation-beverage-group-limited-ibg-152224695.html