Greenpower Energy to Raise AUD 1.36 Million to Fund Golden Ant Project

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Greenpower Energy to Raise AUD 1.36 Million to Fund Golden Ant Project

ASX-listed metals & mining player, Greenpower Energy Limited (ASX: GPP) has unveiled plans to raise AUD 1.36 million before costs to fund exploration drilling and resource estimation at the Golden Ant project. The proceeds raised would be used to undertake a resource drilling program and a JORC certification of the project. Additionally, the funds would be directed towards augment working capital.

Of the total capital raising, the company has secured firm commitments for AUD 900,000, which would be raised through a two-tranche placement of 900 million fully paid ordinary shares at a price of AUD 0.001 each share. Moreover, GPP plans to raise up to AUD 460,000 through a 1:5 rights issue.

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