Greenland Mines Ltd (NASDAQ: GRML) said it intends to offer shares of common stock or equivalents in a public offering, with net proceeds earmarked for the acquisition of the Sarfartoq Nd-Pr rare earth project in southwest Greenland.
The company, headquartered in Charlotte, North Carolina, will sell all securities in the offering. A.G.P./Alliance Global Partners has been appointed as the sole placement agent. Proceeds from the offering, combined with existing cash reserves, will fund the acquisition, working capital requirements and general corporate purposes.
The offering is subject to market and other conditions, and there is no guarantee it will be completed or that its size or terms will remain unchanged. Greenland Mines filed a shelf registration statement (Form S-3, File No. 333-288533) with the U.S. Securities and Exchange Commission on July 7, 2025, which became effective on July 25, 2025.
The company operates multiple projects, including the Skaergaard mining project in southeast Greenland and the Sarfartoq Nd-Pr rare earth project, as well as a biotech division.
