{"success":true,"data":{"pressRelease":{"id":"151531","rtpr_id":"nGNXbdP3gt-20260924","ticker":"GRML","exchange":"NASDAQ","all_tickers":["GRML"],"title":"Greenland Mines Completes $12-Per-Share Equity Financing, Fully Funded Through 2027 Milestones with $42 Million, Terminates ATM, and Completes Sarfartoq Rare Earth Field Program","author":"Globe Newswire","published_at":"2026-09-24T04:21:00.091Z","article_body":"CHARLOTTE, N.C., Sept. 24, 2026 (GLOBE NEWSWIRE) -- via IBN -- Greenland Mines\nLtd (Nasdaq: GRML) (“Greenland Mines” or the “Company”), a\nWestern-aligned critical-minerals developer, today announced that it has\nraised more than $42 million from existing investors through a registered\ndirect offering of common stock and pre-funded warrants, and the exercise of\npreviously issued private warrants.\n\nThe financing materially strengthens the Company’s balance sheet and\nprovides the capital the Company believes is required to execute its planned\nexploration and development programs and achieve its targeted 2027 milestones\nacross its Greenland portfolio. All pre-funded warrants issued in the\nregistered direct offering have now been exercised. With its planned capital\nneeds through these milestones substantially addressed, the Company has\nterminated its at-the-market offering facility.\n\n“Raising more than $42 million from our existing investors gives us the\ncapital required to execute our plan and achieve our targeted 2027\nmilestones,” said Dr. Bo Møller Stensgaard, President of Greenland Mines\nLtd. “Now it’s about execution. At Sarfartoq, we closed the acquisition on\nSeptember 1 and within weeks completed a substantial field program that\nadvances the next phase of drilling, technical work and district-scale\nexploration. I’m proud of what this team has accomplished — and even more\nexcited about what comes next. This is the pace and discipline we intend to\nbring to every asset in the Greenland Mines portfolio.”\n\nSarfartoq Field Program Successfully Completed\n\nGreenland Mines has successfully completed its 2026 geological and structural\nfield program at the Sarfartoq Neodymium-Praseodymium (“NdPr”) Rare Earth\nProject in southwest Greenland. Over approximately three weeks, the field team\ncompleted detailed geological and structural mapping, drone-supported outcrop\nsurveying and systematic rock sampling across priority areas of the Sarfartoq\nCarbonatite Complex. The program was designed to strengthen the\ndistrict-scale, three-dimensional geological framework surrounding ST1,\nimprove targeting for future drilling and resource-upgrade work, and evaluate\npotential relationships between ST1 and other known rare earth zones across\nthe broader complex.\n\nThe campaign also included sampling of carbonatites, rare earth mineralization\nand newly identified carbonatite-dyke occurrences, with samples expected to be\nsubmitted to a Canadian laboratory for rare earth element analysis. WSP\nDenmark completed a second consecutive year of environmental baseline field\ninvestigations, while the Sarfartoq camp has been winterized in restart-ready\ncondition, preserving the option for preparatory work ahead of the principal\n2027 field season.\n\nSarfartoq’s existing ST1 Mineral Resource comprises approximately 12.2\nmillion tons grading 1.32% TREO. The independent Initial Assessment reported a\nHigh-case pre-tax NPV8 of approximately $2.05 billion and a pre-tax IRR of\n118.6%. ST1 occupies well under 1% of the existing Sarfartoq exploration\nlicence, with multiple additional known rare earth occurrences outside the\ncurrent Mineral Resource, mine plan and economic analysis — underscoring the\nbroader district-scale opportunity the Company intends to evaluate.\n\nTechnical information\n\nThe scientific and technical information relating to the ST1 Mineral Resource\nEstimate was prepared by Ronald G. Simpson, P.Geo., of GeoSim Services Inc.,\nwith technical and engineering support from Hassan Ghaffari, P.Eng., M.A.Sc\n(https://www.globenewswire.com/Tracker?data=9D0n0RctcE9itSZmvWpyPGQ0NIMzT2jvGP8fcFDyVhbezS-srR0ldbZUyL9O6jZV).,\nof Tetra Tech Canada Inc.; each is an independent Qualified Person as defined\nunder Regulation S-K Subpart 1300. The Sarfartoq Initial Assessment was\nprepared by Agricola Mining Consultants Pty Ltd. under the direction of\nMalcolm Castle, MAusIMM, an independent Qualified Person as defined under S-K\n1300. The applicable Technical Report Summaries have an effective date of July\n31, 2026.\n\nThe field program described in this release was an early-stage geological\nmapping and sampling program. Assay results have not yet been received. No\nstatement in this release should be interpreted as establishing the grade,\nwidth, continuity, tonnage or economic viability of the sampled or newly\nobserved occurrences.\n\nAbout Greenland Mines Ltd\n\nGreenland Mines Ltd is a Nasdaq-listed resource development and mining company\nfocused on the development of the Skaergaard Project in southeast Greenland\nand the Sarfartoq neodymium-praseodymium rare earths project in southwest\nGreenland. The Company’s strategy is centered on building a multi-asset\nplatform with exposure to rare earth magnet materials, precious metals and\nselect midstream processing opportunities, while advancing its assets and\nbroader North Atlantic Critical Metals Corridor vision linking Greenland\nresources with allied downstream jurisdictions and industrial infrastructure.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe U.S. Private Securities Litigation Reform Act of 1995. Forward-looking\nstatements are often identified by words such as “believe,” “expect,”\n“anticipate,” “intend,” “plan,” “potential,” “could,”\n“may,” “will,” “should,” “estimate,” “objective” and\nsimilar expressions.\n\nForward-looking statements are based on current expectations and assumptions\nand are subject to risks and uncertainties. Many factors could cause actual\nresults to differ materially, including exploration, resource-estimation,\nmetallurgical, engineering, environmental, social, permitting, logistical,\ninfrastructure, financing, commodity-price, market, counterparty and execution\nrisks; the availability and level of participation of advisory board members;\nchanges to planned programs and timelines; the Company’s ability to obtain\nrequired approvals and financing; and risks described in documents filed or to\nbe filed with the U.S. Securities and Exchange Commission. No assurance can be\ngiven that studies, applications, partnerships, transactions, development\ndecisions or production will occur on the timing contemplated or at all.\n\nReaders should carefully consider these factors and the other risks and\nuncertainties described in the Company’s SEC filings. All information in\nthis press release is provided as of its date, and the Company undertakes no\nobligation to update any forward-looking statement except as required by\napplicable law.\n\nInvestor Contact and Corporate Communications:\n\nir@greenlandmines.com\nWebsite: www.greenlandmines.com\n\nCorporate Communications:\n\nIBN\nAustin, Texas\nIBN.Ai\n512.354.7000 Office\nEditor@IBN.Ai\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/bcdd65c8-9254-4c7c-b328-b32ccacefcbc)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXbdP3gt-20260924","title":"Greenland Mines Completes $12-Per-Share Equity Financing, Fully Funded Through 2027 Milestones with $42 Million, Terminates ATM, and Completes Sarfartoq Rare Earth Field Program","author":"Globe Newswire","ticker":"GRML","created":"2026-09-24T04:21:00.091Z","tickers":["GRML"],"exchange":"NASDAQ","article_body":"CHARLOTTE, N.C., Sept. 24, 2026 (GLOBE NEWSWIRE) -- via IBN -- Greenland Mines\nLtd (Nasdaq: GRML) (“Greenland Mines” or the “Company”), a\nWestern-aligned critical-minerals developer, today announced that it has\nraised more than $42 million from existing investors through a registered\ndirect offering of common stock and pre-funded warrants, and the exercise of\npreviously issued private warrants.\n\nThe financing materially strengthens the Company’s balance sheet and\nprovides the capital the Company believes is required to execute its planned\nexploration and development programs and achieve its targeted 2027 milestones\nacross its Greenland portfolio. All pre-funded warrants issued in the\nregistered direct offering have now been exercised. With its planned capital\nneeds through these milestones substantially addressed, the Company has\nterminated its at-the-market offering facility.\n\n“Raising more than $42 million from our existing investors gives us the\ncapital required to execute our plan and achieve our targeted 2027\nmilestones,” said Dr. Bo Møller Stensgaard, President of Greenland Mines\nLtd. “Now it’s about execution. At Sarfartoq, we closed the acquisition on\nSeptember 1 and within weeks completed a substantial field program that\nadvances the next phase of drilling, technical work and district-scale\nexploration. I’m proud of what this team has accomplished — and even more\nexcited about what comes next. This is the pace and discipline we intend to\nbring to every asset in the Greenland Mines portfolio.”\n\nSarfartoq Field Program Successfully Completed\n\nGreenland Mines has successfully completed its 2026 geological and structural\nfield program at the Sarfartoq Neodymium-Praseodymium (“NdPr”) Rare Earth\nProject in southwest Greenland. Over approximately three weeks, the field team\ncompleted detailed geological and structural mapping, drone-supported outcrop\nsurveying and systematic rock sampling across priority areas of the Sarfartoq\nCarbonatite Complex. The program was designed to strengthen the\ndistrict-scale, three-dimensional geological framework surrounding ST1,\nimprove targeting for future drilling and resource-upgrade work, and evaluate\npotential relationships between ST1 and other known rare earth zones across\nthe broader complex.\n\nThe campaign also included sampling of carbonatites, rare earth mineralization\nand newly identified carbonatite-dyke occurrences, with samples expected to be\nsubmitted to a Canadian laboratory for rare earth element analysis. WSP\nDenmark completed a second consecutive year of environmental baseline field\ninvestigations, while the Sarfartoq camp has been winterized in restart-ready\ncondition, preserving the option for preparatory work ahead of the principal\n2027 field season.\n\nSarfartoq’s existing ST1 Mineral Resource comprises approximately 12.2\nmillion tons grading 1.32% TREO. The independent Initial Assessment reported a\nHigh-case pre-tax NPV8 of approximately $2.05 billion and a pre-tax IRR of\n118.6%. ST1 occupies well under 1% of the existing Sarfartoq exploration\nlicence, with multiple additional known rare earth occurrences outside the\ncurrent Mineral Resource, mine plan and economic analysis — underscoring the\nbroader district-scale opportunity the Company intends to evaluate.\n\nTechnical information\n\nThe scientific and technical information relating to the ST1 Mineral Resource\nEstimate was prepared by Ronald G. Simpson, P.Geo., of GeoSim Services Inc.,\nwith technical and engineering support from Hassan Ghaffari, P.Eng., M.A.Sc\n(https://www.globenewswire.com/Tracker?data=9D0n0RctcE9itSZmvWpyPGQ0NIMzT2jvGP8fcFDyVhbezS-srR0ldbZUyL9O6jZV).,\nof Tetra Tech Canada Inc.; each is an independent Qualified Person as defined\nunder Regulation S-K Subpart 1300. The Sarfartoq Initial Assessment was\nprepared by Agricola Mining Consultants Pty Ltd. under the direction of\nMalcolm Castle, MAusIMM, an independent Qualified Person as defined under S-K\n1300. The applicable Technical Report Summaries have an effective date of July\n31, 2026.\n\nThe field program described in this release was an early-stage geological\nmapping and sampling program. Assay results have not yet been received. No\nstatement in this release should be interpreted as establishing the grade,\nwidth, continuity, tonnage or economic viability of the sampled or newly\nobserved occurrences.\n\nAbout Greenland Mines Ltd\n\nGreenland Mines Ltd is a Nasdaq-listed resource development and mining company\nfocused on the development of the Skaergaard Project in southeast Greenland\nand the Sarfartoq neodymium-praseodymium rare earths project in southwest\nGreenland. The Company’s strategy is centered on building a multi-asset\nplatform with exposure to rare earth magnet materials, precious metals and\nselect midstream processing opportunities, while advancing its assets and\nbroader North Atlantic Critical Metals Corridor vision linking Greenland\nresources with allied downstream jurisdictions and industrial infrastructure.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe U.S. Private Securities Litigation Reform Act of 1995. Forward-looking\nstatements are often identified by words such as “believe,” “expect,”\n“anticipate,” “intend,” “plan,” “potential,” “could,”\n“may,” “will,” “should,” “estimate,” “objective” and\nsimilar expressions.\n\nForward-looking statements are based on current expectations and assumptions\nand are subject to risks and uncertainties. Many factors could cause actual\nresults to differ materially, including exploration, resource-estimation,\nmetallurgical, engineering, environmental, social, permitting, logistical,\ninfrastructure, financing, commodity-price, market, counterparty and execution\nrisks; the availability and level of participation of advisory board members;\nchanges to planned programs and timelines; the Company’s ability to obtain\nrequired approvals and financing; and risks described in documents filed or to\nbe filed with the U.S. Securities and Exchange Commission. No assurance can be\ngiven that studies, applications, partnerships, transactions, development\ndecisions or production will occur on the timing contemplated or at all.\n\nReaders should carefully consider these factors and the other risks and\nuncertainties described in the Company’s SEC filings. All information in\nthis press release is provided as of its date, and the Company undertakes no\nobligation to update any forward-looking statement except as required by\napplicable law.\n\nInvestor Contact and Corporate Communications:\n\nir@greenlandmines.com\nWebsite: www.greenlandmines.com\n\nCorporate Communications:\n\nIBN\nAustin, Texas\nIBN.Ai\n512.354.7000 Office\nEditor@IBN.Ai\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/bcdd65c8-9254-4c7c-b328-b32ccacefcbc)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-24T04:21:00.129637912Z","server_sent_at_ms":1790223660129},"received_at":"2026-09-24T04:21:00.181Z","source_url":null},"analysis":{"id":"140333","press_release_id":"151531","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["assay results from the 2026 field program not yet received; no grade or continuity established for new sample zones","financing consists of warrants alongside common stock, implying additional potential dilution if exercised","early-stage explorer; economic figures (NPV8, IRR) are preliminary study outputs subject to substantial permitting and execution risk"],"eventType":"offering","narrative":"Greenland Mines raised more than $42 million at $12 per share from existing investors via a registered direct offering, pre-funded warrants, and private warrant exercises, with all pre-funded warrants already exercised.\n\nThe company says the raise fully funds its plan through targeted 2027 milestones and has terminated its at-the-market offering facility, eliminating a near-term dilution overhang.\n\nSeparately, the 2026 field program at the Sarfartoq rare earth project in southwest Greenland was completed on schedule, with samples submitted for assay and the camp winterized ahead of the 2027 drilling season.\n\nSarfartoq's existing ST1 resource stands at approximately 12.2 million tons grading 1.32% TREO, with an Initial Assessment showing a pre-tax NPV8 of roughly $2.05 billion and 118.6% IRR — though assay results from the new sampling remain pending.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Fully-funded rare earth developer removes ATM dilution overhang ahead of 2027 Sarfartoq drilling."},"keyFigures":{"dealValueUsd":42000000,"customDimensions":{"irr_pretax":"118.6%","npv8_pretax":"$2.05 billion","atm_facility":"terminated","st1_resource":"12.2 million tons grading 1.32% TREO","financing_price_per_share":"$12"}},"quotedText":"Raising more than $42 million from our existing investors gives us the capital required to execute our plan and achieve our targeted 2027 milestones","namedEntities":{"people":[{"name":"Dr. Bo Møller Stensgaard","role":"President"},{"name":"Ronald G. Simpson, P.Geo.","role":"Qualified Person, GeoSim Services Inc."},{"name":"Hassan Ghaffari, P.Eng.","role":"Tetra Tech Canada Inc., technical/engineering support"},{"name":"Malcolm Castle, MAusIMM","role":"Qualified Person, Agricola Mining Consultants"}],"products":["Sarfartoq NdPr Rare Earth Project","ST1 Mineral Resource","Skaergaard Project"],"companies":[{"name":"Greenland Mines Ltd","ticker":"GRML","relationship":"filer"},{"name":"WSP Denmark","relationship":"environmental baseline contractor"},{"name":"Tetra Tech Canada Inc.","relationship":"technical consultant"},{"name":"GeoSim Services Inc.","relationship":"independent resource consultant"},{"name":"Agricola Mining Consultants Pty Ltd","relationship":"Initial Assessment author"},{"name":"IBN","relationship":"corporate communications"}],"dollarAmounts":[{"amount":"$42 million","context":"equity financing raised from existing investors"},{"amount":"$2.05 billion","context":"High-case pre-tax NPV8 of ST1 Initial Assessment"},{"amount":"$12","context":"per-share financing price (per headline)"}]},"materialImpact":{"score":3,"reasoning":"A $42M+ raise from existing investors that fully funds the company through 2027 milestones and allows termination of the ATM facility materially de-risks the balance sheet, though it is a financing rather than an operational or regulatory catalyst."},"tickerRelevance":{"others":[],"primary":"GRML"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":["operations_update"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"equity financing completed plus field program update","sectorWeight":"critical minerals / rare earths strategic interest","issuerAuthored":true}},"event_type":"offering","event_type_secondary":["operations_update"],"sentiment":"bullish","material_impact_score":3,"narrative":"Greenland Mines raised more than $42 million at $12 per share from existing investors via a registered direct offering, pre-funded warrants, and private warrant exercises, with all pre-funded warrants already exercised.\n\nThe company says the raise fully funds its plan through targeted 2027 milestones and has terminated its at-the-market offering facility, eliminating a near-term dilution overhang.\n\nSeparately, the 2026 field program at the Sarfartoq rare earth project in southwest Greenland was completed on schedule, with samples submitted for assay and the camp winterized ahead of the 2027 drilling season.\n\nSarfartoq's existing ST1 resource stands at approximately 12.2 million tons grading 1.32% TREO, with an Initial Assessment showing a pre-tax NPV8 of roughly $2.05 billion and 118.6% IRR — though assay results from the new sampling remain pending.","key_figures":{"dealValueUsd":42000000,"customDimensions":{"irr_pretax":"118.6%","npv8_pretax":"$2.05 billion","atm_facility":"terminated","st1_resource":"12.2 million tons grading 1.32% TREO","financing_price_per_share":"$12"}},"named_entities":{"people":[{"name":"Dr. Bo Møller Stensgaard","role":"President"},{"name":"Ronald G. Simpson, P.Geo.","role":"Qualified Person, GeoSim Services Inc."},{"name":"Hassan Ghaffari, P.Eng.","role":"Tetra Tech Canada Inc., technical/engineering support"},{"name":"Malcolm Castle, MAusIMM","role":"Qualified Person, Agricola Mining Consultants"}],"products":["Sarfartoq NdPr Rare Earth Project","ST1 Mineral Resource","Skaergaard Project"],"companies":[{"name":"Greenland Mines Ltd","ticker":"GRML","relationship":"filer"},{"name":"WSP Denmark","relationship":"environmental baseline contractor"},{"name":"Tetra Tech Canada Inc.","relationship":"technical consultant"},{"name":"GeoSim Services Inc.","relationship":"independent resource consultant"},{"name":"Agricola Mining Consultants Pty Ltd","relationship":"Initial Assessment author"},{"name":"IBN","relationship":"corporate communications"}],"dollarAmounts":[{"amount":"$42 million","context":"equity financing raised from existing investors"},{"amount":"$2.05 billion","context":"High-case pre-tax NPV8 of ST1 Initial Assessment"},{"amount":"$12","context":"per-share financing price (per headline)"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-24T04:21:08.437Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"small-cap","eventGravity":"equity financing completed plus field program update","sectorWeight":"critical minerals / rare earths strategic interest","issuerAuthored":true}},"durationMs":8240,"modelName":"glm-5.3-flashx"}}