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AnorTech, Greenland Mines Complete Share Exchange Transaction

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AnorTech (ANOR.V) has closed its previously announced share exchange transaction with Greenland Mines (GRML), a Nasdaq-listed critical and precious minerals development company.

Under the terms, Greenland Mines has acquired 19,958,503 common shares or a 9.9% interest in AnorTech in exchange for 12,400,000 common shares of Greenland Mines with a current market value of about US$3.5 million.

AnorTech also granted Greenland Mines a six-month option to acquire an additional 25,168,669 shares in AnorTech, bringing Greenland Mines' total shareholding to 19.9%.

AnorTech said it is looking forward to working with Greenland Mines to advance its assets in Greenland. AnorTech owns the Gronne Bjerg anorthosite project in Greenland.

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