Greenland Mines gains after direct stock deal

Greenland Mines

23/09/2026 22:39

** Shares of Greenland Mines GRML.O up 11.6% at $12.49 in extended trading after co secures equity raise
** GRML discloses it sold 3.2 mln shares, including pre-funded warrants, at $12 to institutional investors in direct registered offering for $38.4 mln proceeds
** It intends to use net proceeds for its Greenland mining operations, for general corporate and working capital purposes
** On Fri, the US, Denmark and Greenland said they reached an agreement for the US to expand its military footprint in the self-governed Danish territory
** On Mon, GRML shares more than tripled after co said it applied to Greenland for a license to increase its control in the Sarfartoq rare earth and carbonatite district to 454 km from 192 km
** On Tues, GRML shares extended their rally, adding another 50%, while stocks of other Greenland-linked firms slipped
** GRML shares closed down ~21% at $11.19 in regular session on Weds
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))