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$GRML

7 stories mentioning GRMLUpdated 18d ago

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Wire

Greenland Mines Completes $35 Million Acquisition of Neo North Star Resources

Greenland Mines (GRML) said Wednesday that it has completed its $35 million acquisition of Neo North Star Resources.The acquisition includes the Sarfartoq Nd-Pr Rare Earths Project in Greenland, which the company said has an estimated pre-tax net present value of approximately $2.05 billion, and a pretax internal rate of return of 118.6%.The deal consists of $20 million in cash and $15 million in Greenland Mines shares.Shares of Greenland Mines were up over 3% pre-bell Wednesday.Price: $4.83, Change: $+0.18, Percent Change: +3.88%

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Wire

Top Midday Decliners

Electromed (ELMD) Chief Executive Jim Cunniff plans to retire around April 2 after serving as president and CEO since 2023, it said late Tuesday, adding that the board plans to search for his successor.Shares declined 18%, with intraday trading volume rising to over 229,000 from a daily average of about 89,000.Greenland Mines (GRML) shares slumped 43% amid heavy trading after the company said it priced its public offering of 4 million shares for gross proceeds of about $20 million.Intraday trading volume catapulted to over 2.09 million from a daily average of about 174,000.Spyre Therapeutics (SYRE) said late Tuesday its experimental rheumatoid arthritis drug SPY072 failed to meet the company's internal performance threshold needed to justify further stand-alone development, prompting a halt of its monotherapy RA program.Shares dropped 14% as intraday trading volume rose to over 1.96 million from a daily average of about 1.25 million.Price: $32.20, Change: $-7.14, Percent Change: -18.15%

$ELMD$GRML$SYRE
Equities

Greenland Mines Plans Stock Offering to Fund Rare Earth Project Acquisition

Greenland Mines (GRML) said Tuesday it intends to offer shares of common stock, or common stock equivalents, in a public offering to help fund the acquisition of the Sarfartoq Nd-Pr Rare Earth Element Project.Net proceeds from the offering, together with existing cash and cash equivalents, will also be used for working capital and other general corporate purposes.

$GRML
Wire

Greenland Mines Gets Sarfartoq Carbonatite Complex Mineral Exploration License

Greenland Mines (GRML) said Friday that the Government of Greenland has approved the indirect transfer of mineral exploration license for the Sarfartoq Carbonatite Complex from Neo Performance Materials to the company.The approval was a key regulatory closing condition for the company's previously announced acquisition of the Sarfartoq Neodymium-Praseodymium Rare Earths Project, Greenland Mines said.Shares of the company were up nearly 27% in Friday afternoon trading.Price: $0.21, Change: $+0.04, Percent Change: +26.51%

$GRML
Wire

Greenland Mines Reports Limited-Duration Stockholder Rights Plan

Greenland Mines (GRML) said Thursday its board has approved a limited-duration stockholder rights plan to protect the interests of the company and its stockholders.The plan is effective immediately and will expire July 22, 2027, the company said.Greenland said it will issue one right for each company share to shareholders of record on Aug. 7. The rights will only become exercisable if a person or group buys beneficial ownership of 15% or more of its shares, it said.Shares were up over 2% in morning trading.Price: $0.23, Change: $+0.01, Percent Change: +2.56%

$GRML
Wire

SRX Global Invests in Greenland Mines

SRX Global (SRXH) has made a strategic investment in Greenland Mines (GRML), a critical and precious minerals development company with a portfolio of projects in Greenland, the company said Thursday.Financial terms of the investment were not disclosed.Price: $0.23, Change: $-0.01, Percent Change: -4.17%

$GRML$SRXH
Mining & Metals

Neo Performance Materials Signs $35 Million Deal With Greenland Mines for Sarfartoq Project

Neo Performance Materials (NEO.TO) after trade Wednesday said its Neo North Star Holdings unit and other shareholders agreed to transfer ownership of Neo North Star Resources to Greenland Mines (GRML) in a deal valued at US$35 million.The transaction includes US$20 million in cash and US$15 million in Greenland Mines shares. Neo North Star Holdings currently owns about 43.7% of Neo North Star Resources, according to the statement.Neo said the agreement will allow Greenland Mines to lead the Sarfartoq Project's development, while Neo keeps an ownership stake in Greenland Mines and continues focusing on expanding its core midstream and downstream expansion strategy."This agreement reflects our disciplined approach to capital allocation and reinforces Neo's strategic identity as a midstream and downstream advanced materials company, where we create the most value for our customers and shareholders," Chief Executive Rahim Suleman said.The transaction is subject to standard closing conditions, including approval from the Government of Greenland, the company added.Neo shares closed up $0.62 to $31.01 on the Toronto Stock Exchange.

$GRML$NEO.TO

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