Carbonxt Group

Completion of $3.02M Placement

Carbonxt Group Ltd (“Carbonxt” or the “Company”) (ASX: CG1) is pleased to advise that it has received firm commitments to raise $3.02m, through the issue of 46.4 million new fully paid ordinary shares in the Company at $0.065 per share via a Share Placement (‘Placement’).


  • Placement of 46.4m fully paid ordinary shares at $0.065 per share to raise $3.02m before costs
  • Funds raised will be used to fund the next instalment payment to NewCarbon Processing LLC for the construction of the group’s flagship Activated Carbon production facility in Kentucky, USA, as well as for general working capital purposes
  • The Placement price of $0.065 represents a 9% discount to the 15-day Volume Weighted Average Price (VWAP) of CG1 shares to 19 September 2024, being the last trading day prior to the announcement of the placement
Funds raised from the placement will be deployed by Carbonxt to make the next instalment payment due to NewCarbon Processing, LLC, the entity which was established as a Joint Venture with Carbonxt’s US investment partner, Kentucky Carbon Processing LLC, to build the flagship state-of-the-art activated carbon plant located in eastern Kentucky, USA. Funds raise will also be used to fund the cost of the offer and for general working capital purposes.

Details of the Placement

The Placement received strong support from a network of sophisticated and high net-worth investors and family offices.

The Placement price of $0.065 represents a 9% discount to the 15-day Volume Weighted Average Price (VWAP) of CG1 shares to 19 September 2024, being the last trading day prior to the announcement of the placement. The Placement includes an attached unlisted, two- year option priced at $0.10 per ordinary share on a 1:2 basis. The options will be subject to approval by shareholders at the forthcoming Annual General Meeting.

A total of 46.4 shares will be issued on Tuesday 1 October 2024 and are expected to trade on Wednesday 2 October 2024.

Carbonxt Managing Director Warren Murphy said “We thank all existing shareholders for their strong support and welcome onboard a number of new shareholders. We expect to make a further payment to our Kentucky investment company, New Carbon Processing, LLC very shortly and look forward to the being able to update on the significant scale-up of our business as the plant comes on-line. Once again, we thank everyone for their support and look forward to a very exciting period for the Company as we add materially to production volumes and strengthen our position as a trusted and dependable supplier of premium Activiated Carbon products in the large United States market.”

This announcement has been authorised for release to ASX by the Board of Directors of Carbonxt Group Limited.


Click here for the full ASX Release

This article includes content from Carbonxt Group, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Carbonxt Group (ASX:CG1)

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Purpose-built advanced carbon for healthier communities

Additional A$1.5 M raised to support Kentucky Investment

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Carbonxt Group (CG1:AU) has announced Additional A$1.5 M raised to support Kentucky Investment

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Carbonxt Group

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