From GlobeNewswire: 2025-05-05 21:36:00

Greenland Resources Inc. is conducting a private placement of up to 3,529,412 units at C$0.85 per unit for gross proceeds of up to C$3,000,000. The company plans to use the net proceeds for engineering studies on the Malmbjerg Project in Greenland and general corporate purposes. The offering is expected to close around May 15, 2025 and is subject to regulatory approvals, including from the Cboe Exchange.

Greenland Resources is focused on the development of its Climax type primary molybdenum deposit in Greenland. The project also produces magnesium, with proven and probable reserves of 571 million pounds of molybdenum metal. The company aims to supply molybdenum to the EU and has an environmentally friendly mine design focused on reducing water usage and minimizing environmental impact.

The Project is supported by the European Raw Materials Alliance and managed by EIT RawMaterials, an organization within the European Union. The company has an extensive management team with experience in the mining industry and capital markets. For more information, visit the company’s website or Canadian regulatory filings.



Read more at GlobeNewswire: Greenland Resources Announces Private Placement Financing