- Greenland Mines issued more than 12 million common shares to AnorTech, valued at approximately $3.5 million at closing.
- Anorthosite is a rock type abundant in Greenland and on the moon, and AnorTech is developing proprietary processes to extract high-value materials from it.
- The transaction moves Greenland closer to the midstream segment of the critical materials value chain.
Two companies with deep roots in Greenland’s mineral landscape have formalized a relationship that could reshape how each of them is valued. Greenland Mines (NASDAQ: GRML) has closed a strategic share exchange with AnorTech Inc. (TSX-V: ANOR; OTCQB: ANORF), a deal that gives Greenland Mines its first foothold in midstream critical materials processing while giving AnorTech access to a NASDAQ-listed partner with growing capital markets presence and a portfolio of world-class Greenland assets.
The transaction, announced June 16 and formally closed by the end of the month, is structured as a share exchange rather than a cash acquisition. Greenland Mines issued 12,400,000 of its common shares to AnorTech, valued at approximately $3.5 million at closing. In return, Greenland received…
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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