Greenland Resources Announces Follow-On Closing of a $1.5 Million Financing

About this update from Greenland Resources Inc.

[{"type":"text","content":"TORONTO / Aug 11, 2025 / Business Wire / Greenland Resources Inc. (“Greenland Resources” or the “Company”; Cboe CA: MOLY | FSE: M0LY) is pleased to announce that it has completed a non-brokered private placement with a single investor of 1,000,000 units of the Company (the “Units”) at a price of C$1.50 per Unit (the “Offering Price”) for aggregate gross proceeds to the Company of C$1,500,000 (the “Offering”). Each Unit comprises one common share of the Company (a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant is exercisable to acquire one Common Share (a “Warrant Share”) at a price of C$2.00 per Warrant Share for a period of 24 months from the date hereof. The Company intends to use the proceeds from the Offering to continue detailed engineering studies and magnesium metallurgical studies for the Malmbjerg Project in Greenland, as well as fund capex and offtaking negotiations and for general corporate and working capital purposes. No finder’s fees, commissions or other compensation were paid in connection with the Offering. Any sales of Units to persons in the United States are made to “Accredited Investors” pursuant to Rule 506 of Regulation D (including “Qualified Institutional Buyers” as defined in Rule 144A who are also “Accredited Investors”) adopted by the United Stated Securities and Exchange Commission under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”). The securities described herein have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. The Company continues to progress in its discussions with supranational banks and strategic investors on the equity part of the capex. Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has also ...

More updates from Greenland Resources Inc.