Subscription to raise £450,000

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that it has completed a subscription ("Fundraise") to raise a total of £450,000 (before costs).

The Fundraise comprises a significant subscription of £450,000 from an institution. The subscription price is 2.5p per share (the "Subscription Price") resulting in the issue of a total of 18,000,000 new ordinary shares ("New Ordinary Shares"). The Subscription Price represents a discount of approximately 7 per cent to the previous day's bid price.

For every two New Ordinary Shares issued, the institution will receive one warrant ("Warrant"). The Warrants will have an exercise price of 3.75p per ordinary share and will expire two years after the date of the New Ordinary Shares' admission to trading on AIM. The Warrants will be subject to an accelerator provision, such that if at any time during the exercise period the 10-day volume-weighted average price of GreenRoc ordinary shares exceeds 5.0 pence per share, the Company may give Warrant holders notice to exercise their Warrants failing which the Warrants will automatically expire.

Use of Proceeds

The proceeds of the Fundraise will provide general working capital for business development and be used by the Company in particular to:

• collect a large bulk sample (10-20 tons) of graphite ore from underground workings of the historical Amitsoq mine;
• cover fees pertaining to the application for exploitation licence submitted in autumn, 2024; and
• cover further base-line studies relevant for the ongoing Environmental Impact Assessment Study.

GreenRoc's CEO, Stefan Bernstein, commented:

"We are very pleased to have secured this substantial amount of capital, which will ensure that we can plan and conduct work which is essential to maintain momentum on our Amitsoq project. While we are pursuing discussions with public institutions, we wanted to add sufficient capital so that we can start making the necessary preparations to have the bulk sample collected. The logistical options are rapidly closing regarding having this sampling concluded before the end of the season this fall, with local contractors in South Greenland already filling up their order books. The sample will provide us with graphite concentrate for our planned graphite anode materials processing plant, as well as important constraints on the beneficiation process, which to be added to the Pre-Feasibility study to be conducted as an important next milestone for Amitsoq.

"With these funds we can also progress with the baseline studies forming the basis of the Environmental Impact Assessment which is an integral part of the mining permit."

Admission to Trading on AIM and Total Voting Rights

Application will be made for the New Ordinary 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 16 June 2025.

Following the issue of the New Ordinary Shares, the total issued share capital of the Company will consist of 270,618,786 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 270,618,786. 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.