GreenX Metals (ASX:GRX) has raised $13.6 million through a placement of 16 million new shares priced at $0.85 each.
The capital raise saw strong participation from institutional investors across North America and Europe, specifically from Germany and Switzerland, underscoring international confidence in the company’s portfolio.
These funds are earmarked for critical exploration and development at two key sites: the Tannenberg Copper Project in Germany and the Eleonore North Gold and Antimony Project in Greenland.
At Tannenberg, the company plans to utilise the fresh capital for systematic data integration and target refinement to prepare for a high-impact drilling program aimed at defining the project’s scale.
Beyond direct project development, the proceeds will bolster GreenX’s general working capital and support the company's ongoing arbitration proceedings against the Republic of Poland.
With the placement expected to settle on Feb. 4, CEO Ben Stoikovich noted that the strengthened balance sheet provides a robust foundation for the company’s 2026 strategic goals.
At the time of reporting, GreenX Metals' share price was $1.00.