Greenland Mines Ltd intends to offer shares of its common stock or common stock equivalents in a public offering to fund the acquisition of the Sarfartoq Nd-Pr Rare Earth Element Project, working capital, and general corporate purposes.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the transaction. The offering is subject to market and other conditions, with no assurance regarding its completion, actual size, or terms.

The securities are being offered pursuant to 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. The company intends to combine the net proceeds from the offering with its existing cash and cash equivalents to complete the transaction.

This financing step follows the delivery of the project's first S-K 1300 Mineral Resource Estimate in August 2026. Greenland Mines operates a mining division focused on the exploration and development of the Skaergaard Project in southeast Greenland and the Sarfartoq project in southwest Greenland.

The company is actively working toward closing its previously announced acquisition of Neo North Star Resources, which owns the Sarfartoq Project. In parallel with the transaction process, Greenland Mines is advancing environmental baseline studies at the site through WSP Denmark in preparation for a future Environmental Impact Assessment.

Read the full announcement: Greenland Mines Announces Proposed Public Offering