At a glance
- Company
- Greenland Mines Ltd
- Ticker
- NASDAQ: GRML
- Announcement
- Acquisition
- Location
- Greenland
Key figures
- Additional AnorTech interest
- 9.9%
- Total AnorTech ownership after completion
- 19.9%
- AnorTech shares to be acquired
- 25,168,669
- Deemed price per share
- C$0.30
- Aggregate consideration
- approximately US$5.3 million, or C$7.55 million
- AnorTech shares held after completion
- 45,127,172
Products and programs
, a Greenland-focused critical-minerals development company, exercised in full its option to acquire an additional 9.9% of AnorTech, increasing its ownership to 19.9%. Greenland Mines will acquire 25,168,669 AnorTech common shares at a deemed price of C$0.30 per share for aggregate consideration of approximately US$5.3 million, or C$7.55 million, satisfied through the issuance of Greenland Mines common shares. Following completion, Greenland Mines will hold 45,127,172 AnorTech shares. The transaction remains subject to TSX Venture Exchange acceptance and customary closing conditions.
AnorTech is advancing its 100%-owned Gronne Bjerg anorthosite project near Nuuk, Greenland, along with technologies targeting smelter-grade and high-purity alumina, CO2-free cement and other industrial materials. Greenland Mines said the increased investment also provides exposure to potential lunar applications for anorthosite, which can be used as an analogue for lunar highlands geology and in lunar regolith simulants. AnorTech reports it has supplied anorthosite to space-sector researchers and has advanced research involving lunar simulants, 3D-printable construction materials and refractory concretes and cements.
To view the full press release, visit: https://nnw.fm/wIx6e
About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The Company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
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In brief
The release says Greenland Mines Ltd. has used its full purchase option for a further 9.9% interest in AnorTech, which would bring its holding to 19.9%. In exchange, it is to receive 25,168,669 AnorTech common shares at an assigned price of C$0.30 each. Payment, valued at approximately US$5.3 million, or C$7.55 million, will be made by issuing Greenland Mines shares. After closing, its AnorTech position will total 45,127,172 shares. The transaction still requires TSX Venture Exchange acceptance and satisfaction of customary closing conditions. AnorTech is developing an anorthosite project near Nuuk and technologies for alumina, cement and other industrial materials. Greenland Mines also cited possible lunar applications, including research use of anorthosite and lunar regolith simulants.
Key takeaways
- Greenland Mines exercised its option to acquire an additional 9.9% of AnorTech.
- The resulting interest would be 19.9%, with consideration paid through Greenland Mines share issuance.
- The transaction remains subject to TSX Venture Exchange acceptance and customary closing conditions.
- AnorTech’s work includes an anorthosite project and technologies for industrial materials, with potential lunar applications also noted.
SEC filings
Earlier from Greenland Mines Ltd
- Greenland Mines (NASDAQ: GRML) Completes 2026 Skaergaard Field Program
- Greenland Mines (NASDAQ: GRML) (FSE: HK6) Raises Over $17 Million, Adds Two Directors
- Greenland Mines (NASDAQ: GRML) (FSE: HK6) Begins Trading on Frankfurt Stock Exchange
- Greenland Mines (NASDAQ: GRML) Raises More Than $42M, Completes Sarfartoq Field Program
- Greenland Mines (NASDAQ: GRML) Applauds Signing of U.S.-Denmark-Greenland Security Agreement
