Greenland Resources Announces Private Placement Financing

Core Viewpoint - Greenland Resources Inc. is conducting a non-brokered private placement to raise up to approximately C$3,000,000 for the Malmbjerg Project and general corporate purposes [1][2]. Group 1: Offering Details - The private placement will consist of up to 3,529,412 units priced at C$0.85 per unit, each unit comprising one common share and one half of a common share purchase warrant [1]. - Each warrant is exercisable at C$1.00 per share for 24 months post-closing [1]. - The closing of the offering is expected around May 15, 2025, subject to regulatory approvals [2]. Group 2: Project Overview - Greenland Resources focuses on the development of a primary molybdenum deposit in Greenland, with magnesium as a by-product [3]. - The Malmbjerg project has a capex of US$820 million, a levered after-tax IRR of 33.8%, and a payback period of 2.4 years based on a molybdenum price of US$18 per pound [3]. - Proven and Probable Reserves are estimated at 245 million tonnes with a grade of 0.176% MoS2, equating to 571 million pounds of contained molybdenum [3]. Group 3: Market Context - The project is supported by the European Raw Materials Alliance, indicating strategic importance in the EU's resource supply [4]. - The average annual production for the first ten years is projected at 32.8 million pounds, representing approximately 25% of the EU's total yearly consumption of molybdenum [3].