The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Successful Completion of $0.6M Placement

by December 13, 2023
December 13, 2023
Successful Completion of $0.6M Placement

Carbonxt Group Limited (Carbonxt or the Company) is pleased to announce that it has successfully raised$0.6m (before costs) through the placement (“the Placement”) of 10m new fully paid ordinary shares at an issue price of $0.06 (“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 on 18 December 2023.

The Placement was completed in connection with Carbonxt’s capital raise to raise approximately $2.94m before costs, which also comprises a non-renounceable pro-rata Entitlement Offer to existing shareholders (refer ASX Announcement 4 December 2023).

As part of the capital raise, the Company will make a further placement of 8.33m new fully paid ordinary shares at an issue price of $0.06 to Pure Asset Management, to raise an additional $0.5m. These shares will be issued in January 2024 concurrently with the allotment of the Entitlement Offer shares under the Company’s available placement capacity as per ASX Listing Rule 7.1 and 7.1A.

Funds raised will be used to provide funding to the Company for the development of the Kentucky Facility and for working capital purposes.

Managing Director Warren Murphy commented: “We are pleased to confirm the successful completion of the Placement component of Carbonxt’s capital raise. The short time to completion was reflective of strong support from a network of institutional and sophisticated investors. These funds provide the Company with working capital to assist management oversee the accelerated construction activity at our flagship activated carbon production facility in Kentucky, USA. Alongside the funds from the fully-underwritten Entitlement Offer, Carbonxt will be well-capitalised to execute on its stated strategy to deliver a material uplift in production and sales once the NewCarbon facility is operational in CY2024.”

Lead Manager for the Placement were Sanlam Private Wealth. The Lead Manager will be entitled to receive a fee of 6% on the funds raised by them.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Top 5 Canadian Crypto Stocks of 2023
next post
VVC Provides Further Update on the Helium Project in Syracuse

You may also like

Cyprium Metals: Advancing Western Australia’s Nifty Copper Mine...

Aether Global Innovations Corp. Signs Strategic Joint Venture...

Lithium Universe Limited (ASX: LU7) – Reinstatement to...

Helium Evolution Announces Farm-In Partner to Drill Second...

Awalé Hits Multiple High-Grade Intercepts, including 3.3 g/t...

8 Surgical Robotics Stocks (Updated 2024)

WOA Proprietary Technology Successfully Adapted to Produce Pea...

Spearmint Acquires the Sisson North Tungsten Project

Canada Nickel Makes New Discovery at Newmarket Property,...

Horizon Minerals’ Boorara to Become Australia’s Newest Gold...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Massachusetts suspect charged with attempting to assassinate a Cabinet nominee

    • Pakistan says it has struck military targets inside India in series of new attacks

    • Rodrigo Duterte is being held at The Hague. Next week he might be elected mayor of his hometown

    • Buffett Hands Over Reins, What’s Next for Berkshire’s Capital Strategy?

    • Triumph Gold Updates Shareholders on Operations, Engages Market Maker, and Grants Options

    Categories

    • Business (1,633)
    • Investing (4,797)
    • Politics (7,546)
    • World (6,132)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top