Greenland Mines Ltd

Greenland Mines Ltd. announced a change in its independent registered public accounting firm. The company dismissed BCRG Group and appointed Simon & Edward LLP, effective June 23, 2026, following S&E's acquisition of BCRG's attest business. While there were no disagreements with BCRG, their prior audit reports for 2025 and 2024 included an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern, and material weaknesses in internal control were previously disclosed.

Greenland Mines Ltd. completed a private placement on June 18, 2026, issuing 15,000,000 shares of common stock. This transaction generated approximately $3,750,000 in gross proceeds for the company. The issuance was conducted under the exemption from registration provided by Section 4(a)(2) and/or Rule 506 of Regulation D, with purchasers identified as accredited investors.

Greenland Mines Ltd. has filed a definitive proxy statement for a Special Meeting of Stockholders on July 16, 2026. Shareholders will vote on approving the issuance of up to 2,040,038,760 common shares for the acquisition of Greenland Mines Corp. and 34,551,939 shares for a private placement, as required by Nasdaq Listing Rule 5635. Additionally, approval is sought to increase the shares available under the 2024 Equity Incentive Plan to 20,000,000. The Board emphasizes that non-approval of the issuance proposal could lead to delisting and notes the significant dilutive effect on existing stockholders.

Greenland Mines Ltd. entered into a Share Exchange Agreement to acquire 19,958,503 common shares of AnorTech Inc., representing approximately 9.9% of AnorTech's issued and outstanding shares. In exchange, Greenland Mines issued 12,400,000 shares of its common stock to AnorTech. The agreement also grants Greenland Mines an option, exercisable for six months, to acquire an additional 25,168,669 common shares of AnorTech, with the payment satisfied through the issuance of more Greenland Mines common stock.

Greenland Mines Ltd. stockholders approved a proposal at a special meeting on June 18, 2026, to effect one or more reverse stock splits of the company's outstanding common stock. The approved exchange ratio for each split will be between 1-for-2 and 1-for-50, with the aggregate ratio not exceeding 1-for-60. The Board of Directors has until March 31, 2027, to determine the specific terms. The proposal passed with 42,878,771 votes in favor.

Greenland Mines Ltd. has entered into a Securities Purchase Agreement with three investors to issue and sell 15,000,000 shares of its common stock. The transaction is expected to generate total proceeds of $3,750,000 for the company. The net proceeds are intended for working capital and general corporate purposes, with the closing anticipated on or before June 25, 2026.

Greenland Mines Ltd will hold a Special Meeting of Stockholders on June 18, 2026, to vote on a proposal to effect one or more reverse stock splits. The proposed exchange ratio for each split is between 1-for-2 and 1-for-50, with the aggregate not exceeding 1-for-60, at the discretion of the Board of Directors until March 31, 2027. The primary goal is to increase the per share market price of its common stock to meet Nasdaq's minimum bid price requirement of $1.00. Shareholders will also vote on a proposal to adjourn the meeting if needed to solicit additional proxies.

Greenland Mines Ltd entered into a definitive merger agreement to acquire Neo North Star Resources, Inc. for a total consideration of $35 million. The payment will consist of $20 million in cash and $15 million in newly issued shares of Greenland Mines common stock. The merger is subject to customary closing conditions, including approval from the government of Greenland for the transfer of mineral rights.

Greenland Mines Ltd. (formerly Klotho Neurosciences, Inc.) completed the acquisition of Greenland Mines Corp. on March 4, 2026, for approximately $48.4 million, primarily for mineral rights and exploration licenses for the Skaergaard Project. The company subsequently changed its name and ticker to GRML. For the three months ended March 31, 2026, the company reported a net loss of $13.86 million, significantly wider than the $2.12 million loss in Q1 2025, driven by increased operating expenses and an impairment charge. Cash and cash equivalents increased to $10.0 million from $7.18 million at year-end 2025, largely due to proceeds from the sale of securities.

Greenland Mines Ltd. announced its President, Bo Møller Stensgaard, Ph.D., will present an investor presentation on the Skaergaard PGM-Au-V-Ga-Fe-Ti Project in East Greenland. The presentation highlights the project's significant gold, palladium, and platinum mineral resource, valued at approximately $68 billion, and plans for further development. The company is advancing a 2026 field campaign and metallurgical program, exploring by-product opportunities for critical metals like vanadium, gallium, iron, and titanium, and developing a North Atlantic Critical Minerals Corridor concept utilizing Iceland for processing.