Altech Chemicals Ltd (ASX:ATC) Termination of Controlled Placement Agreement
FRA:A3Y) is pleased to announce that it has now completed a final utilisation of its Controlled Placement Agreement (CPA) with Acuity Capital (Acuity) and has by mutual agreement with Acuity terminated the CPA, effective immediately. Altech will receive $2.25 million from the offset of all remaining collateral shares (39,266,667) that Acuity was otherwise required to return to the Company upon maturity or early termination of the CPA. The collateral shares were originally issued to Acuity in February 2020, when the CPA was established. The Company also confirms that it and Acuity have been release from any and all obligations under the CPA.