AnorTech and Greenland Mines Close Strategic Share Exchange Transaction

About this update from Greenland Mines Ltd

VANCOUVER, British Columbia, June 30, 2026 (GLOBE NEWSWIRE) -- AnorTech Inc. (“AnorTech” or the “Company”) (TSX Venture Exchange “ANOR”; OTCQB “ANORF”) is pleased to announce that, further to its news release of June 16, 2026, it has closed the previously announced share exchange (the “Transaction”) with Greenland Mines Ltd. (“Greenland Mines”), a Nasdaq-listed corporation (GRML). This strategic investment in AnorTech provides Greenland Mines with an initial 9.9% equity position in AnorTech, together with an option to increase its ownership to 19.9% on defined terms over the following six months. Pursuant to a share exchange agreement between the Company and Greenland Mines dated June 15, 2026 (the “Agreement”), Greenland Mines has acquired 19,958,503 common shares in the capital of AnorTech (each an “AnorTech Share”), in exchange for 12,400,000 common shares (each a “Greenland Mines Share”) in the capital of Greenland Mines having a current market value of approximately US$3.5M (C$5M). Under the terms of the Agreement, AnorTech has also granted Greenland Mines an option (the “Option”) for a period of six-months following closing (the “Closing”) to acquire an additional 25,168,669 AnorTech Shares (the “Option Shares”), with such Option Shares bringing Greenland Mines’ total shareholding in AnorTech to no more than 19.9% of AnorTech’s issued and outstanding share capital. The Option Shares shall be purchased by Greenland Mines at a price per share equal to the greater of: (i) C$0.30, and (ii) the last closing price prior to the Option being exercised, with consideration to be satisfied through the issuance of Greenland Mines Shares based on the 10-day volume-weighted average trading price of the Greenland Mines Shares on the Nasdaq as at the date of the Option exercise. The AnorTech Shares issued to Greenland Mines are subject to a contractual lock-up period of 60 months from the date of issuance. One-half of the Greenland Mines Shares issued to AnorTech are subject to a contractual lock-up for 12 months from the date of issuance and the remaining one-half of the Greenland Mines Shares are subject to a contractual lock-up for 24 months from the date of issuance. No finder’s fee was paid in connection with the Transaction. Jim Cambon, President of AnorTech, commented: “We are very pleased to have this first tranche closed and welcome Greenland Mines as shar...

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