• Subscription commitments received for a two tranche placement to raise $2.5m
• Share purchase plan (SPP) offer to existing shareholders to raise up to $1m
• Directors to participate in tranche 2 placement for $0.3m

Greenwing Resources Ltd (ASX:GW1) is pleased to announce an equity raising of up to $3.5 million. The raising consists of a $2.5 million placement in two tranches and a $1 million share purchase plan (SPP) offer to existing shareholders. The placement was well supported by existing shareholders and also attracted new investors. The new shares will be issued at $0.03 per share, representing a 22.7% discount to the 5-day VWAP and a 14.3% discount to the last traded price. The proceeds will be used for drilling planning, data analysis, and asset maintenance across Greenwing's San Jorge lithium brine, Que River polymetallic, and Graphmada graphite projects, as well as general working capital. The Tranche 1 placement of approximately 36 million shares is within the company's existing capacity, while the Tranche 2 placement of 26 million shares, including $0.3 million from directors, requires shareholder approval. The SPP offer will allow eligible shareholders to apply for up to $30,000 worth of new shares at the same price as the placement.

Greenwing Resources has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.