source：Proactive Investors USA&CanadaAnthony Ho purchased 57,188 shares in the strongly supported A$4 million SPP after acquiring 100,000 shares earlier this month in an on-market transaction.
Greenland Minerals Ltd (ASX:GGG) (OTCMKTS:GDLNF) (FRA:G7P) non-executive chairman Anthony Ho has shown his support for the company and its rare earth strategy by participating in a share purchase plan (SPP).On December 30 Ho acquired 57,188 shares valued at A$13,725.12 in direct and indirect interests and now holds almost 4.033 million shares.It was his second purchase this month with 100,000 shares valued at A$24,500 obtained in an on-market transaction on December 1.The company was delighted with the outcome of the SPP which raised A$4 million after applications were received for shares valued at A$8.6 million.Its original target was A$3 million and funds accepted have been scaled back with the company issuing 16,694,694 new shares.The heavily oversubscribed SPP takes the company’s total capital raising proceeds to A$34 million after raising A$30 million in a placement to institutional and sophisticated investors at A$0.24 per share.Funds for Kvanefjeld projectProceeds will be used to finalise licensing and permitting for the Kvanefjeld Rare Earth Project in Greenland and conversion of the optimised feasibility study to a definitive feasibility study.The proceeds will also advance offtake and project funding discussions as well as to expand organisational capacity to accelerate pre-development work.GGG's market cap currently stands at approximately A$350.4 million while shares last traded at A$0.265 up from A$0.24 at market close on December 10.This year shares have traded in the range of A$0.067 to A$0.345, a new seven-year high.