Greenland Mines Ltd. raised over $42 million from existing investors. The company secured the capital through a registered direct offering and the exercise of private warrants. The offering priced common stock and pre-funded warrants at $12 per share.
Greenland Mines terminated its at-the-market (ATM) offering facility following the successful raise.
The new capital addresses planned operational needs through 2027 milestones. This funding allows the company to focus on development programs at the Sarfartoq Rare Earth Project.