GlobeNewswire·Sep 8, 2026, 8:30 AM ET

Greenland Mines Enters New Era as Rare Earths and Critical Minerals Company, Achieves Full Nasdaq Compliance and Sets Biotech Spin-Off for Q4

Nasdaq formally approved the company's transaction application, placing Greenland Mines in full compliance with listing requirements.
The company announced a biotechnology spin-off scheduled for the fourth quarter of 2026 to sharpen its focus on rare earths & critical minerals.
The Sarfartoq acquisition was closed on September 1, 2026, following Greenland Government approval & adds a flagship NdPr project with a $2.05 billion high-case pre-tax NPV.
The S-K 1300 Initial Assessment estimates a 118.6% pre-tax internal rate of return for the ST1 deposit, which could supply 34% of global NdPr oxide production outside China.
Greenland Mines now holds two major assets: the Sarfartoq rare earths project & the Skaergaard palladium-gold-platinum project.
Board transitions include the departure of Riad El-Dada & Dr. Shalom Hirschman, with Jason Hawkins joining to provide capital markets & mining expertise.
An annual shareholder meeting is expected to be held before the end of 2026 to finalize the corporate governance transition.