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Carbonxt Group Ltd. ( (AU:CG1) ) has issued an announcement.
Carbonxt Group has secured $500,000 in funding through the issue of convertible notes to major shareholder Phelbe Pty Ltd, structured as up to 500,000 notes at a $1.00 face value, convertible at $0.10 and expiring in three years, with free-attaching options on a one-for-three basis. The capital will bolster working capital and fund a further US$250,000 investment in New Carbon Processing, LLC, lifting Carbonxt’s stake to 47.4% and deepening its strategic position in emissions control and activated carbon processing while utilising existing placement capacity under ASX rules.
The most recent analyst rating on (AU:CG1) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Carbonxt Group Ltd. stock, see the AU:CG1 Stock Forecast page.
More about Carbonxt Group Ltd.
Carbonxt Group Ltd is an Australian-listed cleantech company that develops and markets specialised activated carbon products aimed at capturing contaminants from industrial processes with high emissions of harmful pollutants. It manufactures powdered activated carbon and activated carbon pellets for industrial air purification, wastewater treatment and broader liquid and gas phase applications.
Average Trading Volume: 154,403
Technical Sentiment Signal: Buy
Current Market Cap: A$37.7M
See more data about CG1 stock on TipRanks’ Stock Analysis page.