Greenland Mines Raises More Than $42 Million as Shares Rise 25% Premarket

Greenland Mines Ltd (NASDAQ:GRML) shares rose 25% in premarket trading on Thursday after the company said it raised more than $42 million through a registered direct offering and the exercise of previously issued warrants.

The Charlotte, North Carolina-based rare earth mining company priced the registered direct offering at $12 per share, issuing common shares and pre-funded warrants to existing investors.

According to Greenland Mines, all pre-funded warrants issued as part of the offering have subsequently been exercised. The overall financing also included proceeds from the exercise of previously issued private warrants.

Following the capital raise, Greenland Mines terminated its at-the-market offering facility. The company said the financing substantially addresses its planned capital requirements for its targeted milestones through 2027.

“Raising more than $42 million from our existing investors gives us the capital required to execute our plan and achieve our targeted 2027 milestones,” said Dr. Bo Møller Stensgaard, President of Greenland Mines Ltd.

The statement represents management’s assessment of the company’s funding requirements and planned milestones.

Sarfartoq Field Programme Completed

Greenland Mines separately announced the completion of its 2026 geological and structural field programme at the Sarfartoq Neodymium-Praseodymium Rare Earth Project in southwest Greenland.

The approximately three-week programme included geological and structural mapping, drone-supported outcrop surveying and rock sampling across priority areas of the Sarfartoq Carbonatite Complex.

The company said assay results from the programme have not yet been received.

The fieldwork is therefore at an exploration stage, with the results of the collected samples still pending.

Greenland Mines  stock price