Carbonxt Group (ASX:CG1) said it renegotiated its lease for the Black Birch 10,000-ton-per-annum PAC manufacturing facility in Georgia, according to a Thursday Australian bourse filing.

The new lease amendment secures the lease through September, with the lessor agreeing to accept Carbonxt Group's shares instead as payments.

Carbonxt will issue 7.9 million shares at AU$0.08 per share. It extended the closing date for its share purchase plan to March 27 due to the issuance.

Under the original lease, Carbonxt paid variable monthly lease payments based on the tonnage of activated carbon produced and sold. The agreement was later amended to include a minimum fixed rent, which applied until Dec. 31, 2024.

Its shares fell 2% on market close on Thursday.