GreenRoc Mining plc has raised £550,000 by placing 15,714,287 new ordinary shares of 0.1 pence each at a price of 3.5 pence per placing share.
Following the issue of the placing shares, the company’s total issued share capital will be 134,314,288 ordinary shares of 0.1 pence each, with voting rights.
USES
GreenRoc will use net proceeds for further work at its Amitsoq graphite project in Greenland, including the scoping study; processing a 700kg bulk sample of graphite ore; electrochemical test work; and completion of environmental and social impact assessments.
Funds will also support further commercial negotiations with potential off-take and financial partners, and general working capital requirements.