Greenland Mines (NASDAQ: GRML; FSE: HK6) announced that its board of directors authorized a $20 million share repurchase program as part of an updated capital allocation strategy focused on advancing its core mineral projects, maintaining liquidity and maximizing long-term shareholder value. Following its recent raise of more than $59 million, the company said it is positioned to fund planned work at Sarfartoq and Skaergaard through targeted 2027 milestones while retaining flexibility to repurchase shares.
Greenland Mines may repurchase up to $20 million of its outstanding common stock through open-market transactions or other permissible methods, including trading plans established under Rules 10b5-1 and 10b-18 where applicable. The timing and amount of repurchases will depend on market conditions, share price, liquidity requirements, project funding needs and other capital allocation considerations, and the authorization may be modified, suspended or discontinued at any time.
To view the full press release, visit: https://ibn.fm/wZ5o0
About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The Company’s strategy is centered on building 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.
NOTE TO INVESTORS: The latest news and updates relating to GRML are available in the company’s newsroom at https:/ibn.fm/GRML
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