REG - GreenRoc Strategic - Warrant Exercise and Morrow update

GreenRoc Strategic MaterialsAnnouncement

07/05/2026 15:45

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RNS Number : 4832D  GreenRoc Strategic Materials Plc  07 May 2026

 

7 May 2026

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Exercise of Warrants

 

Update re Morrow

 

Exercise of Warrants

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, announces receipt of a
notice to exercise warrants over a total of 11,538,461 new ordinary shares
of 0.1 pence each in the Company ("Warrant Shares") at an exercise price of
2 pence per Share, raising £230,769 for the Company.

 

Morrow Batteries ASA

 

The Company also notes that on 6 May 2026, Morrow Batteries ASA ("Morrow") in
Norway announced a filing for bankruptcy. GreenRoc had previously announced on
4 December 2024 that it had signed a non-binding MoU with Morrow, however the
Directors consider that the recent news from Morrow has minimal influence over
GreenRoc's position as a future producer of graphite active anode material.

 

Over the coming decade, there is well over 1TWh battery production capacity
already planned in Europe (see map below), which in turn will require roughly
1 million tonnes of graphite anode material. In Europe, there is currently no
production capacity for natural graphite active anode material.

 

We are hopeful that Morrow will find the necessary capital to successfully
restructure and join the growing club of battery producing companies such as
LG Energy Solutions (Poland) and VW's PowerCo, which recently opened for
production in Salzgitter, Germany.

 

Admission and Voting Rights

 

Application will be made for the 11,538,461 Warrant Shares issued in respect
of the notice of exercise of warrants to be admitted to trading on AIM, which
is expected to occur on or around 13 May 2026 ("Admission"). The Warrant
Shares will rank pari passu in all respects with the ordinary shares of the
Company currently traded on AIM.

 

Following Admission, the Company's issued share capital will comprise
295,234,168 ordinary shares of 0.1p each. This number will represent the total
voting rights in the Company and may be used by shareholders as the
denominator for the calculation by which they can determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure and Transparency
Rules.

 

 

 

Source: RWTH Aachen University, March 2026

*ENDS** 

 

For further information, please contact:

 

 Investor questions on this announcement         https://greenrocplc.com/link/ya292e (https://greenrocplc.com/link/ya292e)

 We encourage all investors to share questions

 on this announcement via our investor hub

 [insert link]
 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 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 mined graphite into active anode material ("AAM") - an
indispensable component of Li-batteries - which plans have been independently
and positively evaluated to the prefeasibility stage.

 

GreenRoc received an Exploitation Licence for the Amitsoq Project from the
Government of Greenland in December 2025, valid for 30 years, and the Project
has been designated a Strategic Project by the EU.

 

In October 2025, GreenRoc secured a loan facility of EUR 5.2 million from the
Export and Investment Fund of Denmark ("EIFO") for the financing of the
Company's work programme, including the construction of a pilot AAM plant in
Denmark which is in progress and expected to be completed during 2026.

 

In December 2025, GreenRoc and its consortium partners DTU and IPU were
granted up to ca. £1.2m of grant funding for the project entitled
"EU-Graphite: Building European production of graphite active anode material"
("EU-Graphite") from the Energy Technology Development and Demonstration
Programme ("EUDP"), a Danish government funding programme, which funds will be
utilised to develop GreenRoc's plans to achieve a more sustainable and
environmentally friendly alkaline-based purification process for its anode
material.

 

Both GreenRoc and the Amitsoq Project have been ESG-certified by Digbee™, an
independent platform which provides sustainability assessments for the mining
industry.

 

 

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