Carbonxt Secures $750,000 Convertible Note Funding

Carbonxt Group Limited (ASX: CG1) has secured $750,000 in Convertible Note funding from major shareholder Phelbe Pty Ltd. The Company will issue up to 750,000 Convertible Notes, each with a face value of $1.00, bearing interest at 9.5%, and convertible into a total of 7,500,000 fully paid ordinary shares. Convertible Noteholders will also receive free-attaching options. The funding will support capital expenditure for facility expansion in Minnesota and increase ownership in New Carbon Processing, LLC. Working capital needs will also be addressed. Phelbe Pty Ltd is not considered a related party. For further information, please refer to the details provided. Investors are invited to reach out with any questions they may have regarding this announcement.