Oct 15 (Reuters) - Carbonxt Group Ltd CG1.AX :
* ANNOUNCES SUCCESSFUL INSTITUTIONAL PLACEMENT RAISING ABOUT $3.0 MILLION (BEFORE COSTS)
* NOW INTENDS TO RAISE FUNDS TO DEVELOP FULL-SCALE PLANT AT GAINESVILLE CAPABLE OF PRODUCING ESTIMATED 3,500 TONS A YEAR FROM COMMISSIONING IN 4QFY19
* ANNOUNCES 1 FOR 4 PRO-RATA NON-RENOUNCEABLE OFFER OF NEW SHARES IN CO AT AN OFFER PRICE OF $0.40 PER NEW SHARE