GreenRoc Mining plc raised £470,000 gross via a placing of 12,368,422 new ordinary shares each of 0.1 pence at 3.8 pence per placing share.
Majority shareholder Alba Mineral Resources subscribed for 3,026,316 placing shares and now holds 63,026,317 shares, equivalent to 42.97% of GreenRoc’s issued capital.
Following admission, GreenRoc’s total issued share capital will comprise 146,682,710 ordinary shares of 0.1 pence each, each with voting rights. The company holds no shares in treasury.
USES
Net proceeds will finance completion of the preliminary economic assessment of the Amitsoq graphite project in Greenland, laboratory preparation of graphite product samples and field sampling for environment and social impact studies.
Funds will also go towards test processing Amitsoq graphite ore by new flotation cells, supporting further commercial negotiations and general working capital.