SINGAPORE, Aug. 28, 2024 — JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI), a leading provider of environmentally friendly and efficient reconditioning and recycling services for drums and containers in Singapore and Southeast Asia, today announced the completion of its previously announced initial public offering (the “Offering”). The Offering involved the sale of 2,250,000 ordinary shares at a price of $5.00 per share, resulting in total gross proceeds of $11.25 million before deducting underwriting discounts and offering expenses. The Company itself offered 1,750,000 ordinary shares, while selling shareholders offered 500,000 ordinary shares. It’s important to note that the Company will not receive any proceeds from the sale of shares by the selling shareholders.

Trading of the shares commenced on the Nasdaq Capital Market on August 27, 2024, under the ticker symbol “JBDI.”

Wilson-Davis & Co., Inc. served as the lead underwriter and representative for the Offering.

Schlueter & Associates, P.C. acted as legal counsel for JBDI, and Sichenzia Ross Ference Carmel LLP provided legal counsel for the underwriters in connection with the Offering.

A registration statement on Form F-1, as amended (File No. 333-276945), was filed with the United States Securities and Exchange Commission (the “SEC”) and was declared effective on August 26, 2024. The offering of securities is being made exclusively through a prospectus. Electronic copies of the final prospectus related to the Offering can be accessed by visiting the SEC’s website located at or by contacting Wilson-Davis & Co., Inc. 16479 Dallas Parkway, Suite #315, Addison, TX 75001, Attention: Louis Helsen or email: .

This press release should not be considered an offer to sell or a solicitation of an offer to buy these securities. Furthermore, there will be no sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that particular state or jurisdiction.

About JBDI Holdings Limited

JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and across Southeast Asia. With nearly four decades of industry experience, JBDI Holdings has built a strong reputation for quality and reliability. The company offers a wide range of reconditioned steel and plastic drums, new containers, and ancillary services. Our mission is to support our customers in achieving a zero environmental impact footprint while optimizing resource allocation and reducing costs. For further information, please visit .

Safe Harbor Statement

This press release includes forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties, and other factors, including those listed under “Risk Factors,” have the potential to cause our actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. These forward-looking statements are primarily based on our current expectations and projections about future events that we believe may influence our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Unless legally required, we do not assume any obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events. We qualify all of our forward-looking statements by these cautionary statements.

Investor Relations Contact:

Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: