Business
Placing Update: Additional Tranche To Raise £75k
Placing Update: Additional Tranche To Raise £75k.
About this update from Greenroc Strategic Materials Plc
[{"type":"text","content":"\n\nGreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector: Mining\n \n27 November 2023\nGreenRoc Mining plc\n(\"GreenRoc\" or the \"Company\")\n \nPlacing Update: Additional Tranche To Raise £75k\n \nGreenRoc 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\").\n \nThis 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\")\n \nAs 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.\n \nThe 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.\n \nGreenRoc's CEO, Stefan Bernstein, commented:\n\"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.\"\n \nAdditional Tranche Placing Shares: Admission to Trading on AIM and Total Voting Rights\n \nApplication 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.\n \nFollowing 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...