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Capital Raising Condition Satisfied
Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to provide an update on the conditional transaction announced on 1 December 2025 between its wholly owned subsidiary, Alien Metals Australia Pty Ltd (“AMA”), and GreenTech Metals Limited (ASX: GRE) (“GreenTech”) regarding the Munni Munni PGM-Cu-Ni Project (the “Project”).
One of the key conditions precedent has been satisfied
GreenTech has today announced that it has secured firm commitments of approximately A$5.2 million at A$0.055 per share from institutional and sophisticated investors in an oversubscribed placement (“the Placement”). This satisfies one of the key conditions precedent under the Sale Agreement announced on 1 December 2025. GreenTech will require shareholder approval to finalise the Placement in full.
Belinda Murray, Executive Director of Alien Metals, commented:
“We are pleased that our planned joint venture partner has received strong support from existing GreenTech shareholders and new investors, providing us with confidence that the transaction is on track to complete in the coming weeks. The funds raised will be used to conduct the first drilling program for many years at the Munni Munni platinum group elements – copper – nickel project, with drilling expected to commence imminently. Alien shareholders will benefit from this work and , assuming completion of the JV as expected, will be free carried to a bankable feasibility study, minimising dilution to shareholders.”