Viridis Mining and Minerals Limited has secured commitments for up to approximately US$120 million in strategic equity funding, fully addressing the indicative equity requirement for the Colossus project as the company transitions from a Definitive Feasibility Study into project execution.

The funding package combines a binding agreement with global alternative investment manager One Investment Management for up to US$75 million across two tranches, an accelerated US$5 million tranche from existing strategic investors ORE Investments Ltda. and Régia Capital Ltda., and US$40 million in commitments from a select group of strategic investors, predominantly leading Brazilian institutions.

Together with approximately US$14 million in existing cash and a further US$20 million remaining available under the existing ORE and Régia arrangement, Viridis has identified approximately US$154 million in equity funding sources. This total exceeds the approximately US$135 million indicative equity requirement under the company's targeted financing structure, which relies on 70% senior debt and 30% equity against the Definitive Feasibility Study development capital estimate.

The Colossus Project is Viridis's flagship rare earth asset in Brazil, backed by a completed Definitive Feasibility Study, Ore Reserve, and Mineral Resource Estimate. Viridis previously executed a binding strategic agreement with ORE Investments and Régia Capital in November 2025 to establish a staged non-brokered private placement funding structure for Colossus.

The newly secured equity capacity allows Viridis to mobilise and commence the Engineering, Procurement, Construction and Management contract, place orders for long-lead equipment and critical path items, continue operating the mixed rare earth carbonate demonstration plant, and advance environmental approvals.

“This is a significant achievement for Viridis. Following completion of the DFS, we have now secured sufficient funding sources to fully address the indicative equity requirement for Colossus, materially de-risking the Project's funding pathway as we transition into execution.”

“We are very pleased to welcome OneIM as a cornerstone institutional investor, alongside the continued support of ORE/Régia and a select group of strategic investors. Importantly, the majority of the Placement capital has been raised from leading Brazilian investors, demonstrating strong domestic conviction in Colossus and alignment with our strategy to maximise rare earth industrialisation and downstream capability in Brazil.”

— Rafael Moreno, Managing Director

The financing steps run alongside parallel debt discussions. Viridis has appointed financial advisers to structure project debt and distributed a briefing package to prospective lenders. An Independent Engineer is progressing technical due diligence, with the Independent Technical Report targeting completion by the end of August 2026.

The company is targeting receipt of lender term sheets and the progression of credit approvals by the end of September 2026. These debt efforts are supported by non-binding and conditional letters of support and interest from international export credit agencies and development finance institutions, alongside engagement with the Brazilian National Bank for Economic and Social Development. Viridis is targeting a Final Investment Decision for the Colossus Project in the fourth quarter of 2026, followed by the commencement of construction.

Read the full announcement: VMM Secures Up to US$120M Strategic Equity Funding