Greenwing Resources (ASX:GW1) is planning to raise $3.5 million in a two-tranche placement and share purchase plan (SPP) to fund several projects across its portfolio.
About 83.3 million shares will be issued under both tranches at an issue price of $0.03 per share. The issue price represents a 22.7% discount to the five-day volume-weighted average price and a 14.3% discount to the last traded price on 22 April 2025..
Prenzler Group and Bizzell Capital Partners are managing the equity raising.
The proceeds will be deployed towards the San Jorge Project in Argentina, Que River Project in Tasmania, Graphmada Mining Complex in Madagascar, as well as payment of creditors, and loan repayments.
Greenwing will also conduct an SPP to raise up to $1 million. Eligible shareholders will be able to apply for up to $30,000 worth of shares under the SPP at the same issue price as the placement.
Greenwing Resources is focused on boasting its portfolio of critical mineral projects, prospective for primarily lithium and graphite, in Argentina, and Madagascar.
The company will be attending the RIU Sydney Resources Round-up being held from 6-8 May. Mining.com.au is an official media partner at this year’s event.
Write toMaddison Elliott at Mining.com.au
Images: Greenwing
