GreenX Metals (ASX:GRX) has successfully completed a bookbuild and secured a placement of 16 million new ordinary shares at a price of $0.85 per share, raising gross proceeds of approximately $13.6 million.
The net proceeds from the placement will be used for exploration and development at the company’s Tannenberg Copper Project in Germany and the Eleonore North Gold and Antimony Project in Greenland.
The funds will also be used as general working capital and for costs incurred in the company’s ongoing arbitration proceedings with Poland.
The placement is expected to settle on 4 February 2026 at which time the company will issue the new shares on or around 5 February 2026, pursuant to ASX Listing Rule 7.1A.
CEO Ben Stoikovich says that he is “delighted” with the continued support by new and existing shareholders, citing the strong participation from shareholders in North America and Europe.
“The strengthened balance sheet places the company in a strong position for 2026, as it looks to undertake a more targeted exploration program at Tannenberg, designed to delineate the project’s true scale and potential through systematic data integration, target refinement, and drill-ready prioritisation,” Stoikovich says.
SPC Resource Finance assisted with the placement.
GreenX Metals is focused on copper exploration in Germany and Greenland, looking to strengthen Europe’s strategic minerals supply.
Write to Amy Rotman at Mining.com.au
Images: GreenX Metals
