Greenland Mines Ltd (NASDAQ: GRML) raised over $17 million through a registered direct offering of common stock priced at $13.00 per share, according to a company press release. The transaction brings total capital raised by the Charlotte, N.C.-based company over the past week to more than $59 million.

The offering substantially utilized the remaining capacity under the company's existing shelf registration statement. The company previously terminated its at-the-market offering program.

Greenland Mines said the proceeds are intended to fund exploration and development programs across its Greenland portfolio and support what it described as 2027 milestones. The company holds two primary assets: the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland.

The company also announced the appointment of Blair Jordan and Peter Love to its board of directors. Jordan currently serves as chief executive officer of Tungsten Reserve Corp. and as an independent director of Standard Uranium Ltd. He previously held roles at Forum Markets, Ventum Financial, and Credit Suisse, and began his career as a securities lawyer at Bennett Jones LLP.

Love has more than 18 years of experience in mineral exploration and corporate finance. He is executive chairman and co-founder of Torino Metals and previously co-founded Proximo Resources, which was acquired by Rugby Mining Limited. He also previously served as chairman of Intrepid Mines Limited and Talon Petroleum Limited.