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Greenland Resources Receives Letter of Intent From Nordic Investment Bank
- M0LY.F
- MOLY.TO
TORONTO, August 31, 2026–(BUSINESS WIRE)–Greenland Resources Inc. (TSX:MOLY | FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that the Company has now received a letter of interest (LOI) from the Nordic Investment Bank (NIB), the international financial institution of the Nordic and Baltic countries.
This LOI provides a non-binding expression of interest subject to further due diligence to support the Company by providing funding of up to US$120 million under one or more export credit agencies covered facilities. The LOI follows the Company’s long-term binding offtake agreements with two major Scandinavian steel producers, announced on April 1, 2026 and February 24, 2025. The LOI adds to the expression of interest from Export Development Canada (EDC) to support the Company as a mandate lead arranger in an amount up to US$275 million as per press release dated February 21, 2025. As an international financial institution of the Nordic and Baltic countries, NIB carries a AAA/Aaa credit ratings from S&P Global and Moody’s, respectively.
Greenland Resources is a publicly listed Canadian and Greenlandic company developing Malmbjerg, a world-class Climax-type primary molybdenum deposit near tidewater in east-central Greenland. The project has a NI 43-101 Definitive Feasibility Study produced by Tetra Tech, a 30-year molybdenum and magnesium exploitation licence, an environmentally responsible mine design, and binding long term offtake agreements with major EU steel producers. Proven and probable reserves total 245 million tonnes grading 0.176% MoS2, containing 571 million pounds of molybdenum. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. For more information, visit www.greenlandresources.ca or view the Company’s Canadian regulatory filings at www.sedarplus.com.
On December 3, 2025 the European Commission presented RESourceEU, and mentioned the Company’s Malmbjerg project in Greenland as a priority EU project. The Project is supportedby the European Raw Materials Alliance and EIT RawMaterials GmbH, a body of the European Union.
This news release contains “forward-looking information” (also referred to as “forward looking statements”), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “hopes”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans; planned capex financing and outcomes of due diligence reviews; construction and engineering initiatives for the Malmbjerg molybdenum project; statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
