NH3 Clean Energy (ASX:NH3) completed a AU$600,000 capital raise via a combined equity and convertible note transaction, according to a Wednesday Australian bourse filing.
The transaction consists of a AU$300,000 equity placement at AU$0.02 per share and a AU$300,000 convertible note referenced to future share prices.
It will use funds to begin approvals work and strengthen its cash position as it seeks to finalize commercial contracts around CO2 sequestration off-take contracts.
The placement is subscribed for by two investors, with one investor also subscribing to the convertible notes.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.