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CFOAM readies expansion plans for next generation carbon material

The halt will remain in place until Friday 20th October 2017.

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The company's shares are in pre-open

CFOAM Ltd (ASX:CFO) made a strategic decision to acquire Touchstone Research Laboratory’s CFOAM® assets and technology rights in October 2016.

CFOAM® is a next generation carbon material produced from powdered metallurgical coal using a highly proprietary manufacturing process.

The resulting material is virtually pure carbon, but in hard, open cell material form.

There are numerous fully-developed products and applications that will utilize CFOAM®.

The company is now heading to market with a capital raising, with the ASX granting a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 20th October 2017, or earlier if an announcement is made to the market.

Quick facts: CFOAM Ltd

Price: 0.05 AUD

ASX:CFO
Market: ASX
Market Cap: $9.61 m
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