Greenland Mines raises $42 million funding
- Greenland Mines (NASDAQ:GRML) announced more than $42 million in equity financing through shares, pre-funded warrants, and warrant exercises.
- The company said the funding is expected to support planned programs and targeted 2027 milestones.
- Greenland Mines completed geological mapping and sampling at its Sarfartoq rare earth project, with assay results still pending.
Greenland Mines (NASDAQ:GRML) announced more than $42 million in equity financing on September 24, 2026, through a registered direct offering and warrant exercises.
The financing included common shares, pre-funded warrants, and exercises of previously issued private warrants at a stated price of $12 per share.
All pre-funded warrants issued in the offering have been exercised, and Greenland Mines said it has terminated its at-the-market offering facility.
The company said it expects the proceeds to support planned exploration programs and targeted 2027 milestones, while its Sarfartoq rare earth project remains in the exploration stage.
Greenland Mines completed a three-week geological mapping and sampling program at Sarfartoq, which it acquired on September 1, with samples expected to undergo analysis and assay results not yet available.
