Alba Mineral Resources Plc has noted that its portfolio company, GreenRoc Mining Plc, has raised £460,786 through a share placing. The placing involved the issuance of 18,431,452 new ordinary shares at a price of 2.5 pence per share. Following the placing, Alba's shareholding in GreenRoc will be 38.17%. The proceeds from the placing will primarily be used to complete the feasibility study of a graphite anode processing plant and to undertake ongoing work towards the completion of Environmental and Social Impact Assessment studies for GreenRoc's Amitsoq Project in Greenland. The funds will also support further commercial negotiations and general working capital requirements. GreenRoc's CEO, Stefan Bernstein, expressed satisfaction with the funding, stating that it will allow the company to become a vertically integrated graphite anode producer and a strategically important supplier to the European electric vehicle battery market. The proceeds will also be used to complete the remaining parts of the Environmental and Social Impact Assessments, with the aim of submitting an application for an exploitation permit in 2024. The feasibility study is planned to be concluded in Q2 2024. Directors of Alba Mineral Resources and GreenRoc participated in the placing, with George Frangeskides, Mark Rachovides, and Stefan Bernstein each subscribing for £5,000 of shares. The subscription constitutes a related party transaction, but the independent directors of Alba Mineral Resources consider the terms to be fair and reasonable. In addition, the company has granted warrants to G-Force Capital Ltd as a commission fee for raising funding. The warrants have an exercise price of 2.5 pence and are exercisable until 21 November 2025. Application will be made for the placing shares to be admitted to trading on AIM.