REG - GreenRoc Strategic - Drawdown of EUR 848k of EIFO Loan Funds

GreenRoc Strategic MaterialsAnnouncement

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RNS Number : 6175K  GreenRoc Strategic Materials Plc  08 December 2025

GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining

 

8 December 2025

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Drawdown of EUR 848k of EIFO Loan Funds

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased to announce
that it has drawn down €848,175 (circa £740k) of loan funding from the
Export and Investment Fund of Denmark ("EIFO") to cover key costs in the next
phase of work related to the development of the Amitsoq Graphite Deposit and
Active Anode Materials ("AAM") pilot plant.

 

Use of Funds

The funds have been drawn down pursuant to the convertible loan agreement
between EIFO and GreenRoc announced by the Company on 22 October 2025 and will
be utilised for  the following processes:

 

Amitsoq Graphite Deposit

-    Collection of bulk sample from Amitsoq (complete)

-    Gap analysis (list of required data) towards Prefeasibility Study
("PFS")

-    Preparations for Phase III drilling in 2026

-    EIA field work 2025, activities reporting

AAM Pilot Plant

-    Hydrofluoric acid ("HF")-free purification optimisation test work

-    Purchase of graphite mills

-    Warehouse for pilot plant, reconstruction and preparations for
installation

EIFO Loan Facility

 

As stated in the Company's RNS of 22 October 2025:

 

-    The EUR 5.2m loan facility from EIFO may be drawn down during the
first two years of the term at GreenRoc's sole election, and has a maturity of
5 years or, if sooner, on the date of commissioning by GreenRoc of a
commercial AAM plant.

 

-    On maturity, or sooner if GreenRoc raises £15m or more over 18 months
from other sources of debt or equity capital, or a defined exit event occurs
for GreenRoc, EIFO may elect either to be repaid in cash or to convert the
loan into ordinary shares in the Company ("Ordinary Shares"), with conversion
at an effective 20% discount to the Ordinary Shares' market price at that
date.

 

-    Key protections have been agreed with EIFO to reduce the dilutive
impact to the Company of any conversion, notably:

 

-    the inclusion of a valuation floor - if GreenRoc's market
capitalisation is less than £30m on conversion, it will be treated for the
purposes of conversion as if it has a market capitalisation of £30m;

 

-    EIFO may not, as a result of conversion, hold more than 10% of the
issued share capital of GreenRoc, with any balance being repaid in cash or
otherwise by conversion into shares in GreenRoc's graphite-related
subsidiaries, subject to an independent valuation; and

 

-    if EIFO elects to convert the loan into Ordinary Shares, the Company
may instead elect to repay the loan in cash and to issue share options to EIFO
in an aggregate value corresponding to 20% of the amount repaid in cash.

Other Developments

Greenroc is presently reviewing proposals from leading mineral processing
consultancies for the production of graphite concentrate from the collected
bulk sample. This concentrate will then be used as the feedstock for the AAM
Pilot Plant, once operational.

 

GreenRoc's CEO, Stefan Bernstein, commented:

"The receipt of these first funds from EIFO marks a significant milestone in
advancing our Amitsoq graphite project and the development of our AAM plant.
These funds will enable us to start building our pilot AAM plant as well as
undertaking drilling preparations and environmental studies at the Amitsoq
deposit.  It will also cover some costs that have already been incurred, such
as the collection of a bulk sample completed in autumn 2025. We are grateful
for EIFO's continued support and look forward to updating the market as we
achieve further milestones."

 

 

 

 

*ENDS** 

 

For further information, please contact:

 

 Investor questions on this announcement         https://greenrocplc.com/s/f795de (https://greenrocplc.com/s/f795de)

 We encourage all investors to share questions

 on this announcement via our investor hub
 GreenRoc Strategic Materials Plc                info@greenrocplc.com (mailto:info@greenrocplc.com)

 Stefan Bernstein, CEO                           +44 20 3950 0724

 Cairn Financial Advisers LLP (Nomad)

 Sandy Jamieson / Louise O'Driscoll              +44 20 7213 0880

 Oberon (Broker)                                 +44 20 3179 5300

 Nick Lovering/Adam Pollock

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market, financial and business conditions, competition
for and availability of qualified staff and contractors, regulatory processes
and actions, technical issues, new legislation, uncertainties resulting from
potential delays or changes in plans, uncertainties resulting from working in
a new political jurisdiction, uncertainties regarding the results of
exploration, uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of regulatory and
other third party consents and approvals, uncertainties regarding the
Company's or any third party's ability to finance, execute and implement
future plans and programmes, and the occurrence of unexpected events. Actual
results achieved may vary from the information provided herein as a result of
numerous known and unknown risks and uncertainties and other factors.

 

 

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on
developing the Amitsoq Graphite Project in Greenland into a producing mine to
meet critical demand from Electric Vehicle ('EV') manufacturers in Europe and
North America for new, high grade and conflict-free sources of graphite.
Amitsoq is one of the highest-grade graphite deposits in the world with a
combined Measured, Indicated and Inferred JORC Resource of 23.05 million
tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain
several decades of mining.

 

The plans for the Amitsoq Project include the construction of a facility to
further process the mined graphite into active anode material - an
indispensable component of Li-batteries - which plans have independently and
positively evaluated to prefeasibility study stage.

 

GreenRoc has entered into a partnership with the Norwegian battery
manufacturer Morrow Batteries to establish a regional supply chain. The
Amitsoq Project has been designated a Strategic Project by the EU and in March
2025 it was also ESG-certified by Digbee™, an independent platform which
provides sustainability assessments for the mining industry.

 

In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2
million from the Export and Investment Fund of Denmark ("EIFO"), for the
financing of the Company's work programme.

 

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