Carbonxt Group Raises AU$600,000 in Share Placement

MT Newswires Live

01/05

Carbonxt Group (ASX:CG1) has raised AU$600,000 through the placement of 6.7 million fully paid ordinary shares at AU$0.09 each to major shareholder Phelbe and several high-net-worth investors, according to a Monday Australian bourse filing.

The issue price reflects a 6.8% discount to the company's 10-day volume-weighted average price, per the filing.

The proceeds will support general working capital requirements and fund a $250,000 investment in New Carbon Processing, lifting the company's ownership interest to 46.7%, the filing added.

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