Greenland Mines Ltd (Nasdaq: GRML) said its board of directors approved a limited-duration stockholder rights plan, effective July 22, 2026, designed to protect stockholders from coercive takeover tactics.

The plan will expire on July 22, 2027, unless redeemed, exchanged, or terminated earlier if stockholder approval is not obtained at the company's 2027 annual meeting.

Under the plan, the company will distribute one right per outstanding common share as a dividend to stockholders of record as of the close of business on August 7, 2026. The rights become exercisable if a person or group acquires beneficial ownership of 15% or more of the company's outstanding common shares.

When triggered, each eligible rights holder may purchase additional common shares at an exercise price of $0.75 per right, with those shares carrying a market value of approximately twice the exercise price. Rights held by the acquiring person become void.

If the company is subsequently acquired through a merger or similar transaction, eligible rights holders may purchase shares of the acquiring company's stock at the same exercise price and at the same discount.

The board retains the option to redeem the rights at $0.0001 per right before a triggering acquisition occurs, or to exchange each right for one common share at its discretion.

Existing stockholders who already hold 15% or more before the plan's announcement are grandfathered, though the rights become exercisable if such a holder increases its position by 0.20% or more after the announcement.

Chairman and Chief Executive Officer Dr. Joseph Sinkule said the plan "does not prevent the Board from considering or accepting an offer that the board determines is fair and in the best interests of stockholders."

Additional details are available in the company's Form 8-A and Form 8-K filings with the U.S. Securities and Exchange Commission, both dated July 23, 2026.