Greenland Resources Inc. announced a private placement of 4,225,352 common shares at a price of CAD 0.71 for the gross proceeds of CAD 3 million on July 7, 2023. The transaction will include participation from new investor, Maj Invest Equity A/S. The transaction is expected to close on July 12, 2023. and is subject to certain customary conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the NEO Exchange.

The common shares issued pursuant to the private placement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.