Greenland Mines Ltd 8-K

What Happened

• Greenland Mines Ltd (GRML) announced it entered into a Share Exchange Agreement with AnorTech Inc. (TSXV) to acquire 19,958,503 common shares of AnorTech, representing approximately 9.9% of AnorTech’s post-closing outstanding common shares.
• On June 22, 2026, Greenland Mines issued 12,400,000 shares of its common stock to AnorTech in exchange for those AnorTech shares. The Agreement also gives Greenland Mines a six-month option to buy up to an additional 25,168,669 AnorTech shares.

Key Details

• Transaction date: June 22, 2026 (shares issued the same day).
• Acquired AnorTech shares: 19,958,503 (≈9.9% post-closing).
• Shares issued by GRML: 12,400,000 common shares as consideration.
• Option terms: 6-month window to acquire up to 25,168,669 additional AnorTech shares at a per-share price equal to the greater of CAD$0.30 or AnorTech’s last TSXV closing price before exercise; payment to be made by issuing GRML common stock valued using GRML’s VWAP immediately before exercise.

(Agreement is filed as Exhibit 10.1 to the Form 8-K.)

Why It Matters

• This transaction gives Greenland Mines a near-10% equity stake in AnorTech, positioning GRML as a meaningful minority investor in a TSXV-listed company.
• The issued GRML shares and the option to acquire more AnorTech shares could affect Greenland’s share count and ownership structure if the option is exercised (consider dilution and strategic exposure).
• Investors should note the cross-border pricing terms (option priced in CAD) and that any future exercise will be settled with GRML stock using VWAP pricing, which links the economic cost to GRML’s market price at exercise.