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CARBONXT GROUP LIMITED — Capital/Financing Update 2021
Aug 16, 2021
64640_rns_2021-08-16_b388b975-a707-469f-b6f3-d75209973491.pdf
Capital/Financing Update
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ASX RELEASE
17 August 2021
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Carbonxt Group Signs Corporate Advisory Mandate with Sixty Two Capital
US Based Cleantech and Activated Carbon Technology company, Carbonxt Group Limited (ASX: CG1, ‘Carbonxt’ or the ‘Company’) is pleased to announce the appointment of Sixty Two Capital Pty Ltd (‘Sixty Two Capital’) as a Corporate Advisor to the Company.
Sixty Two Capital is a Perth based corporate advisory and investment group with a focus on the growth and funding of emerging companies. Sixty Two Capital Director, Mr Sufian Ahmad, said “Sixty Two Capital takes pride in generating value for its clients through investments in companies it believes has scalable technology and potential for tremendous growth. Carbonxt represents one of the most exciting opportunities in the Cleantech space, with its solutions addressing the large environmental issues of emissions control and water purification”.
The initial period of engagement is for 6 months. As consideration for their services, the Company will issue 5 million unlisted options to the Advisor with an exercise price of $0.24, expiring three years from the date of issue. The Advisor options are subject to the vesting schedule below:
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(i) 1 million unlisted options upon signing the Agreement (Tranche 1 Options);
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(ii) 2 million unlisted options with a vesting condition of the CG1 10-day VWAP being above 40c (Tranche 2 Options); and
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(iii) 2 million options with a vesting condition of the CG1 10-day VWAP being above 60c (Tranche 3 Options).
This announcement has been authorised for release to ASX by the Board of Directors of Carbonxt Group Limited.
ENDS
Enquiries Warren Murphy Managing Director +61 413841216 [email protected]
About Carbonxt
Carbonxt (ASX:CG1) is a cleantech company that develops, and markets specialised Activated Carbon products, focused on the capture of contaminants in industrial processes that emit substantial amounts of harmful pollutants. The Company produces and manufactures Powdered Activated Carbon and Activated Carbon pellets for use in industrial air purification, wastewater treatment and other liquid and gas phase markets.
Carbonxt Group Limited. Level 12, 225 George Street, Sydney NSW 2000