Greenland Mines Ltd. (NASDAQ: GRML)

Greenland Mines Ltd. (NASDAQ: GRML) is focused on the exploration and development of mineral assets in Greenland. Through its mining division, the company is advancing the Skaergaard Project in southeast Greenland while also pursuing the acquisition of the Sarfartoq rare earth project in southwest Greenland. Together, these assets provide exposure to precious metals, critical metals and rare earth elements within a jurisdiction that has attracted growing interest as governments and industries seek to diversify strategic mineral supply chains.

The company’s strategy centers on building a North Atlantic critical minerals platform that links resource development in Greenland with downstream processing, logistics infrastructure and industrial markets in Europe and North America. In June 2026, Greenland Mines expanded that strategy through a strategic investment in AnorTech Inc., providing exposure to sustainable alumina, high purity alumina and related industrial materials opportunities in Greenland. In addition to advancing its mineral assets, Greenland Mines has established relationships and initiatives designed to support future project development, including environmental studies, metallurgical work, infrastructure planning and downstream processing opportunities.

Greenland Mines also maintains a biotechnology division focused on developing therapies for neurodegenerative and age-related disorders. Supported by an experienced team spanning mining, geology, biotechnology and capital markets, the company is pursuing opportunities across both natural resources and life sciences.

The company is headquartered in Charlotte, North Carolina.

Mining

Greenland Mines’ mining division is centered on advancing the Skaergaard Project while pursuing the acquisition and development of the Sarfartoq rare earth project. The company has also made a strategic investment in AnorTech Inc., a Greenland-focused resource and technology company advancing sustainable alumina and high purity alumina opportunities. Together, these initiatives form the foundation of Greenland Mines’ North Atlantic critical minerals strategy.

Skaergaard Project

The Skaergaard Project is Greenland Mines’ flagship mineral asset located in southeast Greenland. The project hosts a stratiform palladium-gold-platinum deposit within the Skaergaard Intrusion and, according to the project’s NI 43-101 Technical Report effective Nov. 22, 2022, contains an Indicated Mineral Resource of 11.4 million ounces palladium equivalent (“PdEq”) within 159 million tonnes grading 2.23 g/t PdEq and an Inferred Mineral Resource of 14.1 million ounces PdEq within 205 million tonnes grading 2.14 g/t PdEq. Greenland Mines reports that approximately $30 million has been invested in the project since the 1990s, including approximately 45,000 meters of diamond drilling and channel sampling.

Greenland Mines controls three mineral exploration licenses covering approximately 877 square kilometers at Skaergaard and is advancing environmental, metallurgical and technical studies to support future development. The company has stated plans to pursue additional drilling, resource expansion and evaluation of potential critical-metal byproducts while also exploring downstream processing opportunities through initiatives in Iceland, including agreements related to the Helguvík industrial area that support its broader North Atlantic critical minerals strategy.

Sarfartoq Project

In May 2026, Greenland Mines entered into a definitive agreement to acquire Neo North Star Resources, Inc., owner of the Sarfartoq rare earth project in southwest Greenland. The project covers approximately 687 square kilometers and is centered on a large carbonatite complex that hosts rare earth mineralization. Its most advanced area, the ST1 Zone, contains a legacy NI 43-101 compliant Preliminary Economic Assessment-stage Mineral Resource estimate of 5.9 million tonnes of Indicated resources grading 1.8% total rare earth oxides (“TREO”), supported by extensive drilling, metallurgical testing, engineering studies and environmental work.

Sarfartoq is focused on magnet rare earth elements including neodymium and praseodymium, which are used in permanent magnets for electric vehicles, wind turbines, defense systems and other advanced technologies. Greenland Mines has highlighted the project’s infrastructure advantages, ongoing environmental studies and development potential, while an associated agreement with Neo Performance Materials provides offtake rights covering up to 60% of future production following completion of the acquisition.

Biotech

In addition to its mining activities, Greenland Mines operates a biotechnology division that includes KLTO-202, a gene therapy candidate with a primary indication for amyotrophic lateral sclerosis (“ALS”). The division is focused on developing biologic, cell and gene therapies targeting neurodegenerative and age-related disorders and is pursuing opportunities to advance and expand its therapeutic portfolio.

Market Opportunity

Rare earth elements and platinum group metals play important roles across industrial, energy, transportation and defense markets. Neodymium and praseodymium are key components in permanent magnets used in electric vehicles, wind turbines, robotics and high-efficiency motors, while palladium and platinum support a range of industrial and technology-related applications. As governments and manufacturers seek to strengthen access to strategic materials, critical minerals have become an increasing focus of industrial development and supply-chain planning.

Global demand for rare earth elements is projected to increase from approximately 59,000 tonnes in 2022 to 176,000 tonnes by 2035, according to McKinsey & Company. The global rare earth elements market, valued at approximately $3.95 billion in 2024, is forecast to reach $6.3 billion by 2030, according to Grand View Research. These trends are being driven by growing demand from electrification, renewable energy and advanced manufacturing industries.

China currently controls a significant portion of global rare earth mining and processing capacity, contributing to efforts across North America and Europe to establish alternative critical minerals supply chains. Through the Skaergaard Project and the pending acquisition of the Sarfartoq Project, Greenland Mines is building exposure to platinum group metals and magnet rare earth elements while advancing its strategy to support a North Atlantic critical minerals corridor linking Greenlandic resources with downstream processing, logistics infrastructure and industrial markets.

Leadership Team

Dr. Joseph Sinkule, Founder, Chief Executive Officer, Director and Chairman of the Board, has more than 40 years of experience in drug, biologic and medical-device research, development and commercialization. He has successfully managed multiple products through FDA approval and commercialization, founded numerous ventures and led financing, development and operational activities across pharmaceutical and biotechnology organizations. He also serves on corporate boards and advises investment firms and life sciences companies.

Jeffrey LeBlanc, Chief Financial Officer, brings more than two decades of experience in financial management, investing, advisory services and entrepreneurship. He is the co-founder of Winvest Acquisition Corp. and previously founded Out of Print, which was acquired by Penguin Random House in 2017. His prior experience includes investment roles at Greenlight Capital and GE Capital, as well as consulting work at McKinsey & Company. He holds an MBA from Harvard Business School and a Bachelor of Science in Chemical Engineering from MIT.

Dr. Bo Møller Stensgaard, President, has more than 20 years of experience in mineral exploration and natural resource development across Europe and the Arctic. A geologist with a PhD in economic geology, he previously served as a Senior Research Scientist at the Geological Survey of Denmark and Greenland and has led both public and private resource companies. His experience includes project advancement, permitting, environmental and social impact assessments, stakeholder engagement, investor relations and strategic advisory work related to European raw materials policy and funding.