Greenland Mines prices $20M public offering of common stock

Greenland Mines Ltd (NASDAQ: GRML) has priced a public offering of 4,000,000 shares of common stock at aggregate gross proceeds of approximately $20 million, before placement agent fees and other expenses, according to a press release.

The offering was placed with new and existing mining-focused institutional investors. A.G.P./Alliance Global Partners acted as the sole placement agent. The closing is expected on or about August 27, 2026, subject to customary closing conditions.

The company said it intends to use net proceeds to fund the acquisition of the Sarfartoq Nd-Pr Rare Earth Element Project in southwest Greenland, as well as for working capital and general corporate purposes.

The securities are being offered under an effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission on July 7, 2025, and declared effective on July 25, 2025.

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