GreenTech Metals Ltd has secured AU$3.4 million for drilling at Whundo Copper

GreenTech Metals Ltd (ASX: GRE) announced that it has received significant commitments from sophisticated and institutional investors. It raised approximately AU$ 2,300,000 by placing 28,750,000 new fully paid ordinary shares at an attractive issue price of AU$ 0.08 per share. A transformative AU$ 1,000,000 drill-for-equity agreement has been established between GreenTech and Topdrill, allowing up to 35% of future direct drilling costs invoiced by Topdrill to be partially paid with GreenTech shares. This strategic partnership is further enhanced by an AU$ 140,000 grants from the Western Australia Government's Exploration Incentive Scheme, aimed at co-funding the drilling of the Shelby target at the Whundo Copper Project. This funding will drive the continued progress of its ambitious staged drilling program at Whundo.

These funds will be strategically directed towards advancing exploration at the Company’s flagship Whundo Copper Project, which has shown immense potential. In addition, it will undertake essential work at the Ruth Well and the Osborne Joint Venture lithium projects, ensuring a balanced portfolio of opportunities while also providing general working capital. The enthusiastic support for this placement, especially from its existing significant shareholders, underscores the confidence in its vision.

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