March 18, 2020 / 2:19 AM / 21 days ago

BRIEF-Carbon Revolution Says Does Not Expect To Become EBITDA Positive In FY20

March 18 (Reuters) - Carbon Revolution Ltd:

* 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

* DOES NOT EXPECT TO BECOME EBITDA POSITIVE DURING FY20

* SEES FY EBIT TO REDUCE BY ABOUT $5M VERSUS FY20 PROSPECTUS FORECAST Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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