GlobeNewswire·Jul 23, 2026, 9:00 AM ET

Greenland Mines Announces Limited-Duration Stockholder Rights Plan Intended to Protect Shareholder Value

GRML

Greenland Mines Ltd (NASDAQ: GRML) Board of Directors approved a limited-duration stockholder rights plan effective July 22, 2026.
The plan aims to protect stockholder interests by ensuring fair value in acquisition proposals & preventing coercive takeover tactics without a control premium.
The rights plan expires on July 22, 2027, unless redeemed, exchanged, or terminated earlier based on stockholder approval at the 2027 annual meeting.
One right will be distributed via dividend for each outstanding common share to stockholders of record as of August 7, 2026.
Rights become exercisable if an acquiring person obtains beneficial ownership of 15% or more of outstanding common shares.
Upon triggering, non-acquiring right holders can purchase additional shares at $0.75 per right, representing a 50% discount to the current market price.
Synthetic interests from derivative positions count toward beneficial ownership calculations under the plan.
The Board retains the option to exchange rights for common shares or redeem them at $0.0001 per right prior to a triggering event.
Existing owners holding 15% or more prior to the announcement are grandfathered but may trigger the plan if their ownership increases by 0.20% or more after the announcement.
The company stated the plan does not prevent fair offers or acquisitions determined to be in the best interests of stockholders.
Greenland Mines Ltd operates mining divisions focused on the Skaergaard & Sarfartoq rare earths projects & a biotech division involving Klotho's KLTO-202 for ALS.
Full details are available in the Form 8-A filed with the SEC on July 23, 2026, & the Form 8-K dated the same day.