Raises $1.3 Million In Equity Placement
Melbourne, Sep 18, 2014 AEST (ABN Newswire) - Clean TeQ Holdings Limited (
ASX:CLQ) has raised $1.3 million with a placement to two strategic investors which will support key initiatives in the water and resource recovery business units.
Hong Kong based Aromatrix Technologies has subscribed for A$1.0 million worth of ordinary shares at 7.0 cents a share. The issue of 14,285,714 shares will see Aromatrix hold 5.45% of CleanTeQ's ordinary issued shares.
Separately, cornerstone shareholder Mr Robert Friedland has topped up his holding such that he has maintained a 19.9% interest on a fully diluted basis, by subscribing for 4,400,000 ordinary shares at 7.0 cents each. Mr Friedland now holds 16.35m ordinary shares and 35.7m convertible notes.
Clean TeQ CEO Cory Williams said today: "We welcome Mr Friedland's continued support and look forward to progressing discussions with Aromatrix on collaborative opportunities in the air purification industry."
About Clean TeQ Holdings Limited
Clean TeQ Holdings Limited (ASX:CLQ) is a world leader in water treatment and resource recovery technology and the Australian leader in biological air purification. Clean TeQ develops technologies in-house and partners with leading technology suppliers worldwide.
The Company offers a range of business models to potential clients including licensing our technology, building and commissioning complete installations (both transportable and fixed), and building and operating installations in joint ventures, in return for a share of revenues generated through resources recovered. Clean TeQ will also acquire mining assets where its technologies can make exploitation of uneconomic ore bodies or re-processing of tailings profitable.
For more information about Clean TeQ please visit the Company's website
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