Greenland Resources Announces Private Placement Financing for Aggregate of $10 Million

Core Viewpoint - Greenland Resources Inc. is conducting a non-brokered private placement to raise up to C$10 million for its Malmbjerg Project in Greenland, focusing on molybdenum and magnesium development [1][7]. Group 1: Offering Details - The private placement will consist of up to 6,666,667 units priced at C$1.50 each, with each unit including one common share and one warrant [1]. - Each warrant allows the purchase of one common share at C$2.00 for 24 months post-closing [1]. - The offering is expected to close around August 5, 2025, pending necessary regulatory approvals [4]. Group 2: Use of Proceeds - Proceeds from the offering will fund detailed engineering studies, magnesium metallurgical studies, capital expenditures, offtake negotiations, and general corporate purposes [1][8]. Group 3: Project Overview - The Malmbjerg Project is a 100% owned molybdenum deposit with magnesium as a byproduct, located in central east Greenland [7]. - The 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 US$18 per pound molybdenum price [8]. - 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 [8]. Group 4: Market Context - The project aims to supply approximately 25% of the EU's total yearly molybdenum consumption and meet 100% of the EU's defense needs [8]. - The magnesium market is currently dominated by China, which holds an 89% market share [7]. Group 5: Advisory Agreement - Greenland Resources has engaged ECM Capital Advisors Ltd. for financial advisory services related to the offering, with a fee of $700,000 and issuance of 466,666 non-transferable warrants [5].