CG1 raised AU$1 million through a placement of 17.1 million shares at AU$0.06/share to a small group of fund managers.
The funds raised will support the scaling up of operations at its Kentucky activated carbon plant.
Carbonxt increased its stake in the Kentucky Carbon Processing facility to 40.3%.
Carbonxt Group Ltd (ASX:CG1) has received firm commitments for share placement of 17.1 million CG1 shares at AU$0.06 per share to raise AU$1 million. The placement has received strong backing from a small group of fund managers and high-net-worth and sophisticated investors.
The funds will be used in scaling up operations at the company’s state-of-the-art activated carbon plant, situated in Kentucky, USA. This follows the recent completion of all on-site mechanical works at the facility.
CG1 shares were trading at AU$0.061 apiece at the time of drafting on 20 December 2024.
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