Alexium International Group (ASX: AJX, AX: AJX, OTC QX: AXXIY) has been granted a trading halt by the ASX pending the release of a capital raising, with the company's shares placed in pre-open.
The company is undertaking a debt capital raising through Baker Young Stockbrokers.
Alexium has not yet indicated where the potential new funds will be allocated, but the company has recently been successful in winning a key U.S. Air Force contract - to demonstrate Cleanshell® CB treatments for chemical and biological protection applications.
This contract awarded earlier in the week follows two other purchase orders by the U.S. Army over the last year, and will further validate Reactive Surface Technology for defense applications.
The work will include testing against a range of "live" chemicals, such as Soman and Mustard nerve agents, on a number of Cleanshell® CB treated fabrics.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 10th September.
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