Following termination of ATM, Company has substantially utilized its shelf capacity
Company also strengthens Board with the addition of two seasoned mining directors
CHARLOTTE, N.C., Sept. 29, 2026 (GLOBE NEWSWIRE) -- via IBN - Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML; FSE: HK6), a Greenland-focused mineral resource development company, today announced that it has raised over $17 million through a registered direct offering of common stock at a purchase price of $13.00 per share, bringing total capital raised by the Company over the past week to over $59 million. The financing materially strengthens the Company's balance sheet and provides the capital required to execute its planned exploration and development programs and achieve its 2027 milestones across its Greenland portfolio. The financing substantially utilized the remaining capacity under the Company's existing shelf registration statement.
The Company also announced the addition of Blair Jordan and Peter Love to its Board of Directors.
Mr. Jordan is an experienced public-company executive, director, investment banker and attorney who currently serves as Chief Executive Officer and a director of Tungsten Reserve Corp. and as an independent director and Chair of the Audit Committee of Standard Uranium Ltd. He previously served as Chief Executive Officer and a director of Forum Markets, Incorporated, where he led a restructuring and subsequently completed a $425 million private placement. Earlier in his career, he served as a Managing Director and Corporate Director of Ventum Financial and spent nearly a decade with Credit Suisse in principal investing, leveraged finance, restructuring, special situations and convertible bonds. He began his career as a securities lawyer with Bennett Jones LLP.
Mr. Love has more than 18 years of experience in mineral exploration and corporate finance for the natural-resources industry. He is Executive Chairman and co-founder of Torino Metals and previously co-founded Proximo Resources, which was acquired by Rugby Mining Limited, following which he served as a director and Chief Executive Officer of Rugby Mining. He also previously served as Chairman of Intrepid Mines Limited and Chairman of Talon Petroleum Limited.
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.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by words such as "believe," "expect," "anticipate," "intend," "plan," "potential," "could," "may," "will," "should," "estimate," "objective" and similar expressions.
Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties. Many factors could cause actual results to differ materially, including exploration, resource-estimation, metallurgical, engineering, environmental, social, permitting, logistical, infrastructure, financing, commodity-price, market, counterparty and execution risks; changes to planned programs and timelines; the Company's ability to obtain required approvals and financing; and risks described in documents filed or to be filed with the U.S. Securities and Exchange Commission. No assurance can be given that studies, applications, partnerships, transactions, development decisions or production will occur on the timing contemplated or at all.
Readers should carefully consider these factors and the other risks and uncertainties described in the Company's SEC filings. All information in this press release is provided as of its date, and the Company undertakes no obligation to update any forward-looking statement except as required by applicable law.
Investor Contact and Corporate Communications:
ir@greenlandmines.com
Website: www.greenlandmines.com
Corporate Communications:
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