Carbonxt Group Limited (Carbonxt or the Company) is pleased to announce that it has successfully raised $4.5m (before costs) through the placement (“the Placement”) of 18.7m new fully paid ordinary shares at an issue price of $0.24 (“Placement Shares”). The Placement Shares will be issued under the Company’s available placement capacity as per ASX Listing Rule 7.1 and 7.1A.
Subscribers to the Placement will receive 1 free attaching Option (“Options”) for every 3 Placement Shares with the Options exercisable at $0.24 and expiring 21 June 2023. The new Options are on the same basis as the listed CG1O Options and will also be listed.
Funds raised will be used for working capital purposes and to give Carbonxt added balance sheet flexibility to pursue a number of growth initiatives primarily focused on fulfilling growing customer demand for Activated Carbon Pellets and Powders in the United Sates and other international markets.
For more information, download the attached PDF.
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