Greenland Mines takes 9.9% stake in AnorTech in share exchange valued at about US$3.5 million

Greenland Mines Ltd.

Greenland Mines Ltd.

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  • Greenland Mines took a 9.9% stake in AnorTech via a share exchange, receiving 19,958,503 AnorTech shares valued at about USD 3.5 million.
  • AnorTech issued 12,400,000 Greenland Mines shares as consideration; no finder’s fee was paid.
  • Deal includes a six-month option to lift the holding to as much as 19.9% by buying 25,168,669 more AnorTech shares.
  • Option price set at the higher of CAD 0.3 or the prior close; paid in Greenland Mines shares priced off a 10-day VWAP.
  • AnorTech shares issued in the exchange carry a 60-month lock-up; consideration shares face 12- to 24-month lock-ups.


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