Carbonxt Secures $500,000 Convertible Note Funding
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Carbonxt Secures $500,000 Convertible Note Funding
Carbonxt Group Ltd (ASX: CG1) has secured $500,000 in Convertible Note funding from major shareholder Phelbe Pty Ltd. The notes have a face value of $1.00, convertible at $0.10, with an expiry of three years. Convertible Noteholders will also receive free-attaching options. Proceeds will be used for working capital and an investment in New Carbon Processing, LLC. After issuance, the Company will lodge an Appendix 3G with ASX. Phelbe Pty Ltd is not considered a related party. For more information, please contact Warren Murphy or Mark Flynn. Carbonxt is a cleantech company specializing in Activated Carbon products for industrial processes.
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