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Greenland Mines closes Sarfartoq rare earth deal, initial assessment cites $2.05 billion NPV in high case

9/6/2026

Western supply-chain pressure on critical minerals has kept Arctic exploration licenses in active circulation, and September 1, 2026 brought one of those assets into US-listed hands.

(Nasdaq: GRML), headquartered in Charlotte, North Carolina, closed its acquisition of the Sarfartoq mineral project in Greenland that day, with NNSR Holdings Inc. merging into its subsidiary Greenland Rare Earths Corp.

The consideration was fixed at 1,040,676 newly issued common shares and 359,324 shares of newly created Series R preferred stock.

The closing amended the original Agreement and Plan of Merger dated May 20, 2026, substituting NNSR Holdings as parent entity in place of Neo North Star Resources, Inc., a Delaware corporation originally named in the agreement.