ASX-listed Greenland Minerals has raised A$7-million through a share placement to institutional investors to progress the ongoing technical development of its Kvanefjeld rare earths project, in Greenland.
The company has received firm commitments for the placement of more than 58.33-million shares, which will be placed at a price of 12c each, representing a discount of 20% on Greenland’s 20-day volume weighted average share price up to July 26.