WCO Group - $3m funding secured through convertible notes
TRANSACT
Thu, Mar 28 2024 10:09 am
WasteCo is pleased to announce the successful issue of convertible notes, raising $3m from a number of wholesale investors. This strategic funding will bolster WasteCo’s operations, specifically aimed at:
- Expanding Recycling Capabilities: Enhancing our facilities to increase recycling throughput and efficiency
- Investing in Technology: Increasing our capability to divert waste from landfill
- Operational Growth: Extending our reach with customer service improvements.
The notes, maturing on 15 October 2025, offer holders the flexibility to redeem for cash or convert to WCO shares at $0.05 each, prior to maturity. With an annual interest rate of 10%, payable quarterly, these notes represent a robust investment in our sustainable growth. CM Partners played a pivotal role in the implementation of this note issue, reflecting confidence in WasteCo’s vision and operational plans.
Announcement PDF
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