GreenRoc Mining Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that, further to the RNS on 22 November 2023, it has received additional gross proceeds of £75,000 by way of a placing of 3,000,000 new ordinary shares of 0.1 pence each (the “Additional Tranche Placing Shares”) at a price of 2.5 pence per share (the “Placing Price”) (the “Additional Tranche”).
This follows the Company raising gross proceeds of £460,786 by way of a placing of 18,431,452 new ordinary shares of 0.1 pence each at a price of 2.5 pence per share as announced in the Company’s RNS on 22 November 2023 (the “Original Placing”)
As a result, the Company has now raised gross proceeds from both the Original Placing and the Additional Tranche of £535,786 by way of a placing of 21,431,452 new ordinary shares of 0.1 pence each at a price of 2.5 pence per share.
The Company has agreed to facilitate the Additional Tranche in particular to accommodate a request from an existing shareholder of the Company who did not meet the book closing deadline for the Original Placing. The net proceeds of the Additional Tranche will support general working capital requirements.
GreenRoc’s CEO, Stefan Bernstein, commented:
“The additional tranche of the placing of £75,000 underlines the demand from shareholders and demonstrates strong investor confidence in the business model, the assets, and the future prospects of the Company.”
Additional Tranche Placing Shares: Admission to Trading on AIM and Total Voting Rights
Application will be made for the Additional Tranche Placing Shares, which will rank pari passu with the existing ordinary shares of 0.1 pence each, to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and that dealings will commence at 8:00 a.m. on or around 1 December 2023.
Following the issue of the Additional Tranche Placing Shares, the total issued share capital of the Company will consist of 168,114,162 ordinary shares of 0.1 pence each. The Company does not hold any ordinary shares in Treasury, therefore the total current voting rights in the Company following Admission will be 168,114,162. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
