Greenland Mines Ltd has priced a public offering of 4,000,000 shares of common stock or common stock equivalents for aggregate gross proceeds of approximately $20 million before deducting placement agent fees and other offering expenses.

The transaction is expected to close on or about August 27, 2026, subject to the satisfaction of customary closing conditions. Greenland Mines intends to apply the net proceeds from the offering primarily toward funding the acquisition of the Sarfartoq Nd-Pr Rare Earth Element Project, alongside supporting working capital and general corporate purposes. A.G.P./Alliance Global Partners acted as the sole placement agent for the offering, which is being conducted pursuant to an effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission.

The financing package underpins the company's broader corporate strategy following a definitive agreement entered into in May 2026 to acquire the Sarfartoq project from its stockholders, including Neo Performance Materials. Permitting and regulatory milestones at the asset advanced in August 2026 when the Government of Greenland approved the indirect transfer of Mineral Exploration License MEL 2020-32 under Section 69(1) of the Greenland Mineral Activities Act.

The project's technical framework was further strengthened in August 2026 when Greenland Mines delivered an independent S-K 1300 Mineral Resource Estimate for Sarfartoq. That technical report established a hybrid open-pit and underground resource totaling 12.2 million tonnes grading 1.32% total rare earth oxides.

Read the full announcement: Greenland Mines Announces Pricing of $20 Million Public Offering