GlobeNewswire·Nov 9, 2026, 9:00 AM ET

AnorTech Closes Final C$7.55 Million Share Exchange; Nasdaq-Listed Greenland Mines Now Holds 19.9%

GRML

AnorTech Inc. closed the second & final share exchange with Greenland Mines Ltd. on November 9, 2026, pursuant to an agreement dated June 15, 2026.
Greenland Mines now holds approximately 19.9% of AnorTech following the acquisition of 25,168,669 AnorTech common shares.
The transaction involved Greenland Mines issuing 1,133,268 of its own common shares with a deemed value of approximately US$5.4 million (C$7.55 million).
AnorTech now holds 1,451,268 Greenland Mines shares representing a current market value of approximately US$5.6 million (C$7.7 million).
AnorTech shares issued to Greenland Mines were purchased at C$0.30 per share, with consideration satisfied via Greenland Mines shares based on a 10-day volume-weighted average price.
A 60-month contractual lock-up period applies to the AnorTech shares acquired by Greenland Mines.
Greenland Mines shares issued to AnorTech are subject to a 12-month lock-up for one-half of the shares & a 24-month lock-up for the remaining half.
The transaction does not involve non-arm's length parties, related party transactions under MI 61-101, or finder's fees.
Greenland Mines plans to hold its 19.9% stake in AnorTech for five years to support the Gronne Bjerg project & sustainable material vision.
AnorTech owns 100% of the Gronne Bjerg anorthosite project in Greenland & is advancing product lines including zero-waste alumina, CO2-free cement, & lunar construction materials.
AnorTech has approximately $3 million in working capital & filed a U.S. provisional patent in 2025 for its proprietary sustainable alumina process.

Company: AnorTech Inc.
Keywords: TSX Venture Exchange:ANOR, AnorTech Inc.