BUZZ - Greenland Mining Company's stock price drops due to the second direct stock transaction in a week

September 29 - ** Greenland Mining (GRML.O) shares fell 10.4% to $10.62 in pre-market trading on Tuesday after the company carried out its second fundraising in a week

** On Monday evening, GRML disclosed (link) that it sold 1.32 million shares to institutional investors via registered direct offering at $13 per share, raising approximately $17.2 million in net proceeds

** The company plans to use the proceeds for Greenland Mining operations, general corporate purposes, and working capital

** Last Wednesday, GRML sold 3.2 million shares (including pre-funded warrants) via direct placement at $12 per share (link), raising $38.4 million to support its mining business

** According to disclosures in the prospectus, after the latest placement, GRML will have approximately 13.3 million shares outstanding

** After the close on September 18, the United States, Denmark, and Greenland signed a security agreement (link) aimed at expanding the U.S. military presence in Greenland

** On Monday, GRML shares closed down about 19% at $11.85; the stock is down 18% year-to-date and down about 48% in the past 12 months; on September 18, the stock hit an all-time intraday low of $2.82

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