Greenland Mines Doubles AnorTech Stake to 19.9%, Adds Lunar Construction Materials Exposure
GRML has more than doubled off its 52-week low of $2.82.
Summary
Greenland Mines exercised its option to acquire an additional 9.9% of AnorTech, doubling its stake to 19.9% for ~US$5.3M paid in GRML shares. The deal extends its critical-minerals platform into smelter-grade alumina and lunar construction materials, leveraging AnorTech's Gronne Bjerg anorthosite project. This follows the initial investment announced in June and completed in late June, and comes amid a series of capital raises and project acquisitions. The transaction is subject to TSX Venture Exchange acceptance and customary closing conditions.
At the time of this announcement, GRML was trading at $8.45 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $69.6M. The 52-week trading range was $2.82 to $36.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.