Greenland Mines announces 1-for-50 reverse split, field updates

Greenland Mines Ltd (Nasdaq: GRML) announced that its board of directors has approved a 1-for-50 reverse stock split of its issued and outstanding common stock, effective at 12:01 a.m. ET on Aug. 24, 2026. The company also provided an operational update on its two Greenland mineral projects.

The reverse split will reduce shares outstanding from approximately 158,850,637 to approximately 3,177,012. The company said the action is intended to bring it into compliance with Nasdaq's minimum bid price requirement for continued listing. The stock will continue trading under the ticker symbol "GRML" with a new CUSIP number of 49876K202.

Fractional shares resulting from the split will be rounded up to the next whole share. Stockholders holding shares through brokers or nominees do not need to take any action.

On the operational side, the company reported that field work is underway at its Skaergaard gold, palladium and platinum project in East Greenland. The first blasting for a bulk sample of mineralized zones has been completed, with material to be used for metallurgical and processing studies. Drone LiDAR and photogrammetry surveys are in progress, and ground-penetrating surveys are underway to map bedrock beneath ice and surface cover.

The company's July 2026 S-K 1300 Technical Report Summary for Skaergaard reported that Indicated palladium-equivalent grade increased 36% and contained Indicated palladium-equivalent ounces increased 31% compared with a prior 2022 estimate, while total tonnage declined. Indicated Mineral Resources now include approximately 7.6 million ounces of palladium and approximately 3.2 million ounces of gold, with additional Inferred resources of approximately 7.8 million ounces of palladium and approximately 4.3 million ounces of gold.

At its Sarfartoq neodymium-praseodymium rare earth project in West Greenland, the company said it plans to begin a geological field program in September, subject to closing of a previously announced acquisition agreement. WSP Denmark has been engaged for environmental baseline work at the site.

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