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Financings

Greenland Resources Closes First Tranche of EIT RawMaterials Financing and Concurrent Private Placement

By The Northwire Desk — AI Analysis Nov 21, 2025 · 09:14 MOLY · 1.17 Greenland Resources Inc.
MOLY · Price

Executive Summary

  • Greenland Resources received the first €375,000 tranche (≈ C$611,250) from EIT RawMaterials under its Initial Option Exercise, issuing 370,455 shares at $1.65 per share.
  • The company completed a non‑brokered private placement of 112,122 common shares at $1.65 each, raising gross proceeds of $185,001.
  • Proceeds will be used to test innovative magnesium extraction from saline water at the Malmbjerg molybdenum project and for general corporate working capital.

Key Details

  • Option Exercise Funding: €375,000 (≈ C$611,250) representing 75 % of the agreed tranche from EIT RawMaterials GmbH, a Horizon Europe‑funded public‑private partnership.
  • Shares Issued to EIT RawMaterials: 370,455 Company Shares at $1.65 per share.
  • Private Placement Size: 112,122 common shares sold at $1.65 per share.
  • Gross Proceeds from Private Placement: $185,001 CAD.
  • Insider Participation: The same 112,122 shares were also purchased by an insider; the transaction qualifies as a related‑party transaction but is exempt from MI 61‑101 valuation and minority‑shareholder approval thresholds (≤ 25 % of market cap).
  • Use of Proceeds:
  • Pilot testing of magnesium extraction technologies on process saline water at Malmbjerg.
  • General corporate purposes and working capital.
  • No Finder’s Fees/Commissions: The offering was conducted without any external compensation paid to intermediaries.
  • Future Funding Plans: Applications submitted for additional Horizon Europe‑supported programs to fund a significant portion of the equity required for Malmbjerg project capex.

Notable Quotes

(Quotes not provided in the release; omitted.)

Read the original news release →

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Financings