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Carbonxt raises ~$1.3 million through a placement of ~13.1 million shares at $0.10 per share issued under current placement capacity
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Commitments received for a further ~$5.7 million through the placement of a further ~56.9 million shares at $0.10 per share subject to shareholder approval
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Funds to be used primarily for the establishment and financing of an initial 40% ownership in a new state-of-the-art activated carbon plant located in eastern Kentucky, USA
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The Kentucky facility has all its required construction and operations permits and the joint venture will commence the key engineering mobilisation activities when the initial placement funds are received.
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Carbonxt will also offer existing shareholders the opportunity to participate in a Share Purchase Plan with new shares to be priced at the same price as the Placement
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