News: CBR Carbon Revolution Says Does Not Expect To Become EBITDA Positive In FY20

March 18 (Reuters) - Carbon Revolution Ltd (CBR) :

• RAISED A$25M THROUGH A NON- UNDERWRITTEN INSTITUTIONAL SHARE PLACEMENT
• TO CEASE RECRUITMENT ACTIVITY RELATED TO PLAN TO INCREASE PRODUCTION VOLUMES TO MINIMISE RISKS OF COVID-19 INFECTIONS
• CEASING RECRUITMENT TO IMPACT SALES VOLUME INCLUDED IN ITS FY20 FORECAST
• SEES TOTAL FY REVENUE ABOUT $54M
• DOES NOT EXPECT TO BECOME EBITDA POSITIVE DURING FY20
• SEES FY EBIT TO REDUCE BY ABOUT $5M VERSUS FY20 PROSPECTUS FORECAST