Greenland Mines (NASDAQ: GRML) raised more than $42 million from existing investors through a registered direct offering of common stock and pre-funded warrants and the exercise of previously issued private warrants. The company said the financing provides the capital it believes is required to execute planned exploration and development programs and achieve targeted 2027 milestones across its Greenland portfolio. All pre-funded warrants issued in the registered direct offering have been exercised and Greenland Mines has terminated its at-the-market offering facility.
Greenland Mines also completed its 2026 geological and structural field program at the Sarfartoq Neodymium-Praseodymium (“NdPr”) Rare Earth Project in southwest Greenland. The approximately three-week program included geological and structural mapping, drone-supported outcrop surveying and systematic rock sampling to strengthen the geological framework around ST1 and improve targeting for future drilling and resource-upgrade work. Sarfartoq’s existing ST1 Mineral Resource comprises approximately 12.2 million tons grading 1.32% TREO.
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About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The Company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to GRML are available in the company’s newsroom at https:/nnw.fm/GRML
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