CXL -0.82%: the green industrial solutions company hosted their AGM today with shares slightly lower on the day. There was little new news from the company today, more so highlighting progress in their technology across cement & lime, mineral processing, water purification and biotech applications. They recently completed a $60m raise, and upside the concurrent SPP from $20m to $21.6m, providing full allocations to all applications here. As a result, they are well-placed in terms of balance sheet strength and have more than 60 projects in the works. Selling after the raise & SPP was likely the reason shares were lower today, with this overhang expected to ease over the next week.
MM is bullish & long CXL in the Emerging Companies Portfolio
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