Greenland Mines Ltd (NASDAQ: GRML) said its board approved a 1-for-50 reverse stock split of its common shares, effective at 12:01 a.m. ET on Sunday, with trading to begin on a post-split basis the same day.
The split reduces outstanding shares from approximately 158.85 million to about 3.18 million, subject to rounding of fractional shares. Each 50 pre-split shares will convert into one share, with any fractional share rounded up to the next whole share. The company’s ticker symbol GRML will remain unchanged, though the CUSIP will update to 49876K202.
Greenland Mines stated the action aims to bring its stock price into compliance with Nasdaq’s minimum bid price requirement for continued listing. Proportionate adjustments will apply to outstanding equity awards, warrants, and related agreements.
Operations continue at the company’s Skaergaard project in East Greenland, where fieldwork is underway. The first blasting for a bulk sample of gold and palladium-platinum zones has been completed. An updated Mineral Resource Estimate, due in July 2026, is expected to include approximately 7.6 million ounces of palladium and 3.2 million ounces of gold in indicated resources.
Separately, Greenland Mines plans to launch a geological and structural mapping program at its Sarfartoq project in West Greenland in September, pending the closing of a previously announced acquisition.
