RE: What cash do they have ?26 May 2026 19:00
They have $70M to fund the drill this autumn.
HOUSTON, April 29, 2026 /PRNewswire/ -- Greenland Energy Company (NASDAQ: GLND) ("Greenland Energy" or the "Company"), an energy company focused on Greenland's Jameson Land Basin, today announced the closing of its previously announced public offering of 16,250,000 shares of common stock, 1,250,000 pre-funded warrants to purchase shares of common stock, and 17,500,000 common warrants to purchase shares of common stock, for gross proceeds of approximately $70 million, before deducting placement agent fees and offering expenses.
Each share of common stock was sold together with one common warrant at a combined public offering price of $4.00. Each pre-funded warrant was sold together with one common warrant at a combined public offering price of $3.9999. Each common warrant has an exercise price of $5.00 per share, is exercisable immediately, and will expire on the fifth anniversary of the date of issuance. The common warrants have been approved for listing and commenced trading on Nasdaq under the symbol "GLNDW." The shares of common stock (or pre-funded warrants) and common warrants were purchased together in the offering but issued separately.
"This financing fully funds the execution of our exploration," said Robert B. Price, Chief Executive Officer of Greenland Energy Company. "We are now positioned to deploy capital into OPW1 & OPW2 procurement, secure mill capacity for long-lead materials, and mobilize the equipment, crews and logistics needed to advance our Jameson Land program towards our planned October 2026 drilling operations."
Proceeds from the offering position Greenland Energy Company as fully funded for its exploration plan, enabling the Company to execute across its Jameson Land program. Capital is expected to be deployed without delay toward critical path items, including casing and tubing for the OPW1 & OPW2 exploration well, securing mill capacity for long-lead materials, and advancing field readiness in Greenland — spanning mobile cranes, workforce mobilization, winter-preparation equipment, pipes, and tug-and-barge logistics. These activities will support the Company's planned commencement of drilling operations in October 2026
https://greenlandenergyco.com/news/
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