Announcement and Share‑Split Details

Greenland Mines Ltd (NASDAQ:GRML) disclosed that its Board of Directors approved a 1‑for‑50 reverse stock split, which will become effective at 12:01 a.m. ET on 24 August 2026. The transaction is intended to bring the company into compliance with Nasdaq’s minimum bid‑price requirement for continued listing. Post‑split, the number of outstanding shares will be reduced from approximately 158.9 million to roughly 3.2 million, and the company will issue a new CUSIP while retaining the GRML ticker. Trading on a post‑split basis is expected to commence at the opening of market on the effective date.

Market Reaction

Following the announcement, Greenland Mines’ common stock declined 19%, reflecting investor response to the split and associated compliance concerns.

Operational Updates – Skaergaard Project

At the Skaergaard project in East Greenland, the company completed its first blasting to obtain a bulk sample of gold‑palladium‑platinum mineralized zones. The extracted material will be used for metallurgical and processing studies. Concurrently, combined drone LiDAR and photogrammetry surveys are advancing across the mineralized zones. In July 2026, Greenland Mines released an updated Mineral Resource Estimate for Skaergaard, showing a 36 % increase in indicated PdEq grade and a 31 % rise in indicated PdEq ounces compared with the 2022 estimate. The revised indicated resources now contain approximately 7.6 million ounces of palladium and about 3.2 million ounces of gold.

Operational Updates – Sarfartoq Rare‑Earth Project

For the Sarfartoq neodymium‑praseodymium rare‑earth project in West Greenland, the company plans to launch a geological and structural mapping programme in September, contingent upon the closing of a previously announced acquisition. WSP Denmark has been engaged to conduct the second year of environmental baseline investigations at the site.

Nasdaq Listing Continuity

Despite the reverse split, Greenland Mines will continue to trade on Nasdaq under the GRML ticker symbol, now linked to a new CUSIP number.