Greenland Mines jumps after $38 mln direct stock offering

Greenland Mines

24/09/2026 09:42

** Shares of Greenland Mines GRML.O rise 27% to $14.2 premarket
** Stock set to open at its highest level in three months, if premarket gains hold
** GRML sold 3.2 mln shares and pre-funded warrants in a registered direct offering priced at $12 per share
** Offering to institutional investors expected to raise about $38.4 mln in net proceeds
** Co says proceeds will be used for Greenland mining operations, working capital and general corporate purposes
** Last week, the US, Denmark and Greenland signed a security pact to expand US military presence in Greenland
** GRML down about 22.6% YTD, as of last close

(Reporting by Darshan Kumar in Bengaluru)
((darshan.kumar@thomsonreuters.com))