Greenland Resources Announces Voting Results

Core Points - Greenland Resources Inc. held its annual general and special meeting on May 23, 2025, where significant shareholder support was demonstrated through the election of directors and other resolutions [1] Group 1: Election of Directors - All four director nominees proposed by management were elected with over 98% of the votes cast, indicating strong shareholder confidence [2] - Voting results for each director were as follows: Ruben Shiffman received 98.66% approval, Leonard Asper also received 98.66%, James Steel received 98.80%, and Nauja Bianco received 98.80% [2] Group 2: Reappointment of Auditors - The reappointment of McGovern Hurley LLP as independent auditors for the upcoming year was approved, along with the authorization for the board to fix their remuneration [3][4] Group 3: Long-Term Incentive Plan - The continuation of the Company's long-term incentive plan, including all unallocated entitlements, was approved with 98.73% of votes in favor [5][6] Group 4: Company Overview - Greenland Resources is focused on developing its 100% owned Climax type primary molybdenum deposit in central east Greenland, with the Malmbjerg molybdenum project also producing magnesium as a by-product [7] - The Malmbjerg project has a capex of US$820 million and a levered after-tax IRR of 33.8$18 per pound [7] - 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 [7] - The project is supported by the European Raw Materials Alliance (ERMA), which is managed by EIT RawMaterials, a body of the European Union [8]