Greenland Mines Ups AnorTech Stake to 19.9% in $5.3M Deal

Greenland Mines Ltd (NASDAQ: GRML) (FSE: HK6) has exercised its option in full to acquire an additional 9.9% stake in AnorTech, boosting its total ownership to 19.9%. The Greenland-focused critical-minerals development company will purchase 25,168,669 AnorTech common shares at a deemed price of C$0.30 per share, for aggregate consideration of approximately US$5.3 million (C$7.55 million), payable through the issuance of Greenland Mines common shares. Upon completion, Greenland Mines will hold 45,127,172 AnorTech shares. The transaction is subject to TSX Venture Exchange acceptance and customary closing conditions.

AnorTech is advancing its 100%-owned Gronne Bjerg anorthosite project near Nuuk, Greenland, alongside technologies for smelter-grade and high-purity alumina, CO2-free cement, and other industrial materials. Greenland Mines noted that the increased investment offers exposure to potential lunar applications for anorthosite, which can serve as an analogue for lunar highlands geology and in lunar regolith simulants. AnorTech has reportedly supplied anorthosite to space-sector researchers and has progressed research into lunar simulants, 3D-printable construction materials, and refractory concretes and cements. The full press release is available via this link: https://nnw.fm/wIx6e.

Greenland Mines is a Nasdaq-listed resource development and mining company focused on the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. Its strategy aims to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and select midstream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure. For ongoing updates, visit the company’s newsroom at https://ibn.fm/GRML.