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Noviqtech Limited (ASX:NVQ)

ALERT: Price-sensitive ASX Announcement for NVQ
Current share price for NVQ : $0.039 0 (0%)+
Announcement
Release
15 Jun 2026 10:16AM
Price at Release
$0.039
Full Release
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Summary
NoviqTech Limited has executed a binding term sheet with Renaissance Group Holdings Limited to divest its Carbon Central, Fuel Central, NoviqAI, and Quantum Intelligence platforms for AUD 1,000,000. This strategic move allows NoviqTech to concentrate resources on its biochar carbon removal projects under its subsidiary Coralia. The transaction aims to simplify operations, cut costs significantly, and redirect focus to high-growth opportunities in carbon dioxide removal markets. Proceeds from the transaction will support Coralia's biochar projects and related commercial developments. The divestment is expected to enhance the company’s financial position and strategic focus on sustainable development initiatives.
Key Points
  • NoviqTech divests Carbon Central, Fuel Central, NoviqAI, and Quantum Intelligence assets.
  • Total consideration for the divestment is AUD 1,000,000.
  • Transaction allows focus on biochar carbon removal projects under Coralia.
  • Expected monthly savings in excess of AUD 100,000 post-divestment.
  • Freddy El Turk resigns from board; Timothy Brooks appointed CEO.
  • Transaction to strengthen balance sheet and strategic focus.
  • Proceeds to support Coralia's biochar projects and commercialization.
  • Transaction subject to shareholder and regulatory approvals.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.