Carbonxt Group Limited (ASX:CG1) Restructures Black Birch Lease and Secures 37% Premium Placement
Lease Restructuring
Carbonxt Group Limited restructured its lease for the Black Birch Powdered Activated Carbon facility in Georgia. The lessor agreed to accept shares as lease payments through September 2025, reducing monthly lease payments by over 50% and significantly lowering operating costs.
Premium Share Placement
The company issued 7,862,900 shares at 8 cents per share, a 37% premium to the 15-day VWAP. This strategic capital raise strengthens Carbonxt’s growth while maintaining operational control of the Black Birch facility.
Share Purchase Plan Extended
Carbonxt extended its Share Purchase Plan closing date to 27 March 2025, allowing shareholders time to assess the lease restructuring and share issuance.
Executive Comments
Managing Director Warren Murphy stated, “We greatly appreciate our lease counterparty’s strong support and confidence in Carbonxt’s future. This lease restructuring delivers a major reduction in fixed costs, ensuring greater financial flexibility while preserving our operational capabilities. The near 40% premium placement further highlights investor confidence in our growth trajectory. Given the significance of this milestone, the Board has extended the Share Purchase Plan (SPP) to allow shareholders time to participate in this opportunity.”
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