WCO Group – $3m funding secured through convertible notes
WasteCo Group
421 Blenheim Road, Upper Riccarton, Christchurch 8041, New Zealand
PO Box 160074, Hornby, Christchurch 8041, New Zealand
28 March 2024
NZX Limited
Wellington
WasteCo Group Limited (NZX:WCO) Secures $3 million Funding Through Convertible Notes
(“Notes”)
WasteCo is pleased to announce the successful subscription 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.
-ENDS-
For further information visit www.wasteco.co.nz or contact:
Shane Edmond
Chair
WasteCo Group Limited
Email: shane@wasteco.co.nz
Mobile: 021 995 519
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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