Ann: GRL: Completion of Entitlement Offer Raising $1.422 M, page-28

26 September 2024Firm Commitments to Raise A$1.2m Secured and Launch of Share Purchase Plan for additional A$300,000 Commitments from sophisticated, professional and institutional investors to raise A$1.2m (before costs) through the issue of 96m new fully paid ordinary shares at A$0.0125 Includes a commitment from existing cornerstone shareholder, American Rare Earths Limited (ASX: ARR) for A$510,000 – upon completion ARR will hold 19.9% of GRL’s total issued capital Funds will be deployed towards exploration activities at the Lewis Ponds Gold, Silver and Base Metals Project in the Lachlan Fold Belt The Lachlan Fold Belt in NSW has attracted significant recent investment interest from mining majors and large investors, reinforcing its standing as a leading Australian mining and exploration district Lewis Ponds has an existing JORC 2012 Inferred Mineral Resource Estimate of 6.20 Mt at 2.0g/t gold, 80g/t silver, 2.7% zinc, 1.6% lead and 0.2% copper and sits within a larger mineral system extending 9km southeast Diamond drilling and metallurgical test work to commence at Lewis Ponds in Q4 of 2024 Concurrently, GRL has launched a Shareholder Share Purchase Plan on the same terms as the Placement targeting to raise an additional A$300,000 to allow existing shareholders to participate on the same terms as the Placement QUOTE
Very good move by ARR to get a seat on the board IMO