Greenland Mines (GRML) Sets Q4 Biotech Spin-Off as Company Sharpens Critical Minerals Focus

LOS ANGELES, CA - September 8, 2026 (NEWMEDIAWIRE) - Greenland Mines (NASDAQ: GRML) announced a series of corporate milestones as it transitions into a focused rare earths and critical minerals company, including plans to spin off its biotechnology division in the fourth quarter of 2026. Nasdaq has formally approved the company application relating to its March 2026 transaction, resolving prior deficiencies and bringing Greenland Mines into full compliance with listing requirements. The company also completed its acquisition of the Sarfartoq project on Sept. 1 following approval by the Government of Greenland. An independent S-K 1300 Initial Assessment for the ST1 deposit estimated a high-case pre-tax net present value of approximately $2.05 billion and a pre-tax internal rate of return of 118.6%. Greenland Mines said planned annual neodymium-praseodymium oxide production from ST1 would equal approximately 34% of current NdPr oxide refining outside China based on 2025 consumption levels during each of the project nine scheduled operating years. The company is also reshaping its board, with Riad El-Dada and Dr. Shalom Hirschman stepping down and capital markets veteran Jason Hawkins joining as Greenland Mines advances Sarfartoq and its Skaergaard palladium-gold-platinum project.

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About Greenland Mines

Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech, including Klotho’s KLTO‑202 primary indication for ALS. The Company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

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The latest news and updates relating to GRML are available in the company’s newsroom at https://ibn.fm/GRML

Forward Looking Statements

Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.

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