Green Critical Minerals Limited (ASX: GCM) has announced a revised placement strategy to raise AU$1,332,000 before costs. The company also plans to offer eligible shareholders a share purchase plan (SPP) with the same terms as the placement, aiming to raise an additional AU$2,500,000 before costs. These funds will support ongoing metallurgical test work and development of the McIntosh Graphite Project, as well as exploration across various projects.
The placement involves issuing 133,200,000 shares at AU$0.01 per share, with an accompanying 1:2 unlisted option for shareholders. The SPP allows eligible shareholders to acquire fully paid ordinary shares at $0.01 per share, with the opportunity to receive free-attaching unlisted options. Placement participants won't be eligible for the SPP. The SPP permits subscription for up to AU$30,000 worth of SPP shares per shareholder. GTT Ventures Pty Ltd is the lead manager for the placement.
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