Greenland Mines raises AnorTech stake to about 19.9%

Key Highlights

• Greenland Mines increased its stake in AnorTech to about 19.9% after exercising an option.
• The company acquired 25,168,669 AnorTech shares at a deemed price of C$0.30 per share.
• Consideration was paid in shares, and the newly issued AnorTech shares have a 60-month lock-up.

Greenland Mines Ltd (Nasdaq: GRML; FSE: HK6) has increased its ownership interest in AnorTech Inc. (TSXV: ANOR) to approximately 19.9% after exercising an option to acquire additional AnorTech common shares.

The company said it exercised the option in full under a share exchange agreement dated June 15, 2026, acquiring 25,168,669 AnorTech common shares from treasury at a deemed price of C$0.30 per share. The transaction closed on November 6, 2026, and was completed by private agreement rather than on a stock exchange or other published market.

This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.

Greenland Mines put the aggregate consideration for the shares at about C$7,550,600 (US$5,298,000). It satisfied that amount by issuing 1,133,268 common shares of Greenland Mines to AnorTech, with the number of shares determined using the 10-day volume-weighted average trading price of Greenland Mines’ Nasdaq-listed shares ending immediately before closing.

Before the closing, Greenland Mines held 19,958,503 AnorTech shares, representing about 9.9% of AnorTech’s issued and outstanding shares, which it acquired under the same agreement in a transaction completed on June 30, 2026. After the closing, it holds 45,127,172 AnorTech shares, representing about 19.9% of the issuer’s issued and outstanding shares, an increase of about 10.0 percentage points. Greenland Mines said it has ownership of and control over all such shares.

The newly issued AnorTech shares are subject to a contractual lock-up period of 60 months from the date of issuance. Greenland Mines described the shares as acquired for investment purposes and said it may increase or decrease its beneficial ownership of, or control or direction over, AnorTech securities in the future, depending on factors including market conditions, AnorTech’s business and prospects, and the lock-up.

The disclosure was issued under Canada’s early warning reporting requirements (National Instrument 62-103), which also requires an early warning report to be filed under AnorTech’s profile on SEDAR+.

The original press release is available on stockhouse.com