Shares of Greenland Mines GRML.O were up 11.6% at $12.49 in extended trading after the company secured an equity raise.
GRML disclosed it sold 3.2 million shares, including pre-funded warrants, at $12 to institutional investors in a direct registered offering for $38.4 million in proceeds.
It intends to use net proceeds for its Greenland mining operations, and for general corporate and working capital purposes.
Recent Greenland-related catalysts
On Friday, the U.S., Denmark and Greenland said they reached an agreement for the U.S. to expand its military footprint in the self-governed Danish territory.
On Monday, GRML shares more than tripled after the company said it applied to Greenland for a license to increase its control in the Sarfartoq rare earth and carbonatite district to 454 km from 192 km.
On Tuesday, GRML shares extended their rally, adding another 50%, while stocks of other Greenland-linked firms slipped.
GRML shares closed down about 21% at $11.19 in regular session on Wednesday.
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