Pacific Road Agrees to Acquire a 10% Stake in Carbon Energy
Carbon Energy (CNX) announces that Pacific Road Resources Fund 1 (“Pacific Road”) will become a cornerstone investor through an agreement to purchase a 10% stake from CSIRO.
Louis Rozman, Investment Director of Pacific Road Capital will be invited to join the Board of CNX as a non-executive Director.
CSIRO maintains an interest of 4.8% in CNX and will continue its good relationship with the company. Pacific Road has also negotiated an option over the purchase of this remaining CSIRO shareholding.
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