Business
Caravelle International Group Regains Compliance with Nasdaq Filing Requirement
SINGAPORE, Aug. 29, 2023 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a global ocean technology company, today announced that it has received
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[{"type":"text","content":"SINGAPORE, Aug. 29, 2023 /PRNewswire/ -- Caravelle International Group (Nasdaq: CACO), a global ocean technology company, today announced that it has received a letter from The Nasdaq Stock Market LLC (\"Nasdaq\"), confirming that the Company has regained compliance with Nasdaq's filing requirement set forth in Listing Rule 5250(c)(1).\nAs previously reported, the Company received a deficiency notice from Nasdaq on May 10, 2023, due to the delay in filing its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. The Company was granted an extension until August 28, 2023, to file its Form 20-F and regain compliance. On August 28, 2023, the Company filed its Form 20-F and has now regained compliance with this Nasdaq's filing requirement.\nThe Company wishes to thank its investors for their continued patience and support during this period. The management remains committed to maintaining the highest standards of corporate governance and transparency.\nAbout Caravelle International Group\nCaravelle is a global ocean technology company. Its business comprises of two sectors: the traditional business in international shipping, operated by the Topsheen Companies (Topsheen Shipping Group Corporation (Samoa) and its subsidiaries) and the new CO-Tech business under Singapore Garden Technology Pte. Ltd. As the traditional business, Caravelle's international shipping business has generated all revenues. The CO-Tech business is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels. Caravelle's CO-Tech industry has no historical operations and has not generated revenue. Caravelle is headquartered in Singapore.\nForward Looking Statements\nThis announcement contains \"forward-looking\" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the \"safe harbor\" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that ...