CHARLOTTE, N.C., Oct. 06, 2026 (GLOBE NEWSWIRE) -- via IBN - Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML; FSE: HK6), a Greenland-focused critical-minerals developer, today announced that its Board of Directors has authorized a $20 million share repurchase program as part of an updated capital allocation strategy focused on advancing its core mineral projects, maintaining strong liquidity, and maximizing long-term shareholder value.
Following the Company's recent raising of more than $59 million in new capital, Greenland Mines believes it is well positioned to fund planned work at Sarfartoq and Skaergaard through targeted 2027 milestones while maintaining the financial flexibility to opportunistically repurchase shares. The Company will continue to prioritize drilling, technical studies, metallurgy, environmental programs and permitting, while evaluating strategic investments and partnerships supporting its North Atlantic Critical Metals Corridor strategy.
"Our recent financings have given Greenland Mines the balance sheet to aggressively advance our world-class Greenland assets while preserving meaningful strategic flexibility," said Bo Møller Stensgaard, President of Greenland Mines. "Our priority remains disciplined investment in Sarfartoq and Skaergaard. At the same time, we believe our own shares may represent a compelling use of capital at certain valuations. This $20 million authorization gives us the ability to act when we believe repurchases can create attractive long-term value for our shareholders."
Under the authorization, the Company may repurchase up to $20 million of its outstanding common stock from time to time through open-market transactions or other permissible methods, including pursuant to trading plans established under Rules 10b5-1 and 10b-18, where applicable. The timing and amount of any repurchases will depend on market conditions, the Company's share price, liquidity requirements, project funding needs and other capital allocation considerations. The authorization does not obligate the Company to repurchase any particular amount of common stock and may be modified, suspended or discontinued at any time.
About Greenland Mines Ltd
Greenland Mines Ltd is listed on Nasdaq and develops mineral assets in Greenland, including the Skaergaard precious-metals project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. Its North Atlantic Critical Metals Corridor strategy seeks to connect Greenland resources with processing capacity and industrial customers in the United States and allied countries. The Company's portfolio also includes a strategic investment in AnorTech, which is developing alumina and other materials from Greenland anorthosite.
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; the availability and level of participation of advisory board members; 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
www.greenlandmines.com
Corporate Communications
IBN
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