BUZZ - Greenland Minerals completes $38 million direct placement, stock price surges

September 24 - ** Greenland Minerals (GRML.O) shares rose 27% in pre-market trading to $14.2

** If the pre-market gains hold, the opening price will mark a new three-month high for the stock

** GRML sold (link) 3.2 million shares and pre-funded warrants via a registered direct offering, at a price of $12 per share

** The offering, targeted at institutional investors, is expected to raise approximately $38.4 million in net proceeds

** The company stated that the funds will be used for mining operations in Greenland, as well as for working capital and general corporate purposes

** Last week, the United States, Denmark, and Greenland signed a security agreement (link) aimed at expanding the U.S. military presence in Greenland

** As of the previous trading session’s close, GRML’s share price had fallen about 22.6% year to date

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