Highlights
- CG1 has secured an additional AU$1.5 million in funding through a combination of an AU$339,000 share placement and a AU$1.165 million increase to its existing convertible note facility.
- The convertible note facility was initially established on 27 February 2025 with major shareholder Phelbe Pty Ltd.
- Both Phelbe Pty Ltd and Nanjia Capital Limited participated in the expanded funding arrangement.
- The funds will be used to support the company’s strategic investment in Kentucky-based facility, USA.
Carbonxt Group Limited (ASX:CG1) has secured an additional AU$1.5 million in funding through a combination of an expanded convertible note facility and a AU$339,000 share placement.
The convertible note facility, initially established on 27 February 2025 with major shareholder Phelbe Pty Ltd, has been increased by AU$1.165 million, bringing the total amount to A$1.665 million. The additional funding was subscribed to by Phelbe Pty Ltd and Nanjia Capital Limited.
The proceeds from this combined funding will be used to support CG1’s strategic investment in its U.S.-based activated carbon manufacturing facility in Kentucky.
CG1 shares were trading at AU$0.054 per share, up ~6%, at the time of writing on 10 April 2025.