Eclipse Metals Ltd (ASX: EPM) has successfully secured AU$2 million through an oversubscribed placement at the market price of AU$0.015 per share, without any discount. The raise was led by a cornerstone investment of AU$500,000 from an existing shareholder, reflecting strong support for Eclipse’s strategy and the potential of its Greenland assets. The funds will advance exploration and environmental programs at the Gronnedal rare earth element (REE) project and the historic Ivigtut site.
The placement includes 133.3 million new shares and 33 million unlisted options for the Lead Manager, exercisable at AU$0.03. Proceeds will support resource expansion drilling, environmental planning, and analysis of historical drill core to define new targets. This capital raise reinforces Eclipse's role in the global rare earth supply chain and supports continued development of its 89Mt Gronnedal REE resource. The placement was conducted under existing capacity and did not require shareholder approval.
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