Greenland Mines (GRML) holders approve broad reverse stock split authority

(High)

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Greenland Mines Ltd. stockholders approved a reverse stock split proposal at a special meeting on June 18, 2026. The approval lets the board amend the certificate of incorporation to carry out one or more reverse stock splits of the company’s outstanding common stock at exchange ratios between 1‑for‑2 and 1‑for‑50, at any time up to March 31, 2027, as long as the combined effect does not exceed 1‑for‑60 overall.

On April 23, 2026, 121,238,660 common shares were issued and outstanding, and holders of 45,111,132 shares were present or represented by proxy, forming a quorum. The reverse split proposal passed with 42,878,771 shares voting for, 2,210,259 against, and 22,102 abstaining. Because the proposal passed, a contingent adjournment proposal was not needed.

Insights

Shareholders gave Greenland Mines’ board broad reverse split flexibility.

Stockholders authorized Greenland Mines Ltd. to implement one or more reverse stock splits between 1‑for‑2 and 1‑for‑50, with an overall cap of 1‑for‑60, effective anytime through March 31, 2027. This centers on capital structure, not operating performance.

The strong support — 42.9 million shares for versus 2.2 million against — suggests broad approval of giving the board this tool. Actual impact depends on if, when, and at what ratio the board chooses to implement a reverse split.

This type of authorization is often used to manage share price and listing requirements, but specific objectives or timing beyond the stated window are not detailed in the excerpt.

8-K Event Classification

2 items: 5.07, 9.01

2 items

Item 5.07 Submission of Matters to a Vote of Security Holders Governance

Results of a shareholder vote on proposals at an annual or special meeting.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Reverse split range: 1-for-2 to 1-for-50 Aggregate reverse split cap: 1-for-60 Shares outstanding: 121,238,660 shares +5 more

8 metrics

Reverse split range 1-for-2 to 1-for-50 Authorized exchange ratios for each reverse stock split

Aggregate reverse split cap 1-for-60 Maximum combined effect of all reverse stock splits

Shares outstanding 121,238,660 shares Common shares issued and outstanding as of April 23, 2026

Shares represented at meeting 45,111,132 shares Common shares present or by proxy at special meeting

Votes for proposal 42,878,771 votes Votes in favor of reverse stock split proposal

Votes against proposal 2,210,259 votes Votes against reverse stock split proposal

Abstentions 22,102 votes Abstaining votes on reverse stock split proposal

Authorization window end March 31, 2027 Latest date board may implement authorized reverse splits

Key Terms

reverse stock splits, Second Amended and Restated Certificate of Incorporation, quorum, broker non-votes

4 terms

reverse stock splits financial

"to effect one or more reverse stock splits of the Company’s outstanding common stock"

A reverse stock split is when a company combines multiple existing shares into fewer higher-priced shares—like trading four small slices of a pie for one larger slice. It doesn’t change the overall value of an investor’s holdings immediately, but it raises the per-share price and can matter to investors because it can affect market perception, stock exchange listing eligibility, and trading liquidity, and it changes share counts used in investor metrics.

Second Amended and Restated Certificate of Incorporation regulatory

"amendments of the Company’s Second Amended and Restated Certificate of Incorporation to effect one or more reverse stock splits"

quorum regulatory

"constituting a quorum. Set forth below are the final voting results"

A quorum is the minimum number of members needed to officially hold a meeting or make decisions. It ensures that decisions are made with enough participation to represent the group’s interests, much like a majority must be present for a vote to be valid. For investors, understanding quorum is important because it affects when and how important company or organization decisions can be legally made.

broker non-votes regulatory

"For 42,878,771 | | 2,210,259 | | 22,102 | | 0 broker non-votes"

Broker non-votes occur when a brokerage firm is unable to vote on a shareholder’s behalf during a company election or decision because the shareholder has not given specific voting instructions, and the broker is not allowed or chooses not to vote on certain matters. They are important because they can affect the outcome of votes, especially when the results are close, by effectively reducing the total number of votes cast.

FAQ

What did Greenland Mines (GRML) stockholders approve at the June 18, 2026 meeting?

Stockholders approved a proposal allowing Greenland Mines’ board to conduct one or more reverse stock splits of its outstanding common stock, within set ratio limits, by March 31, 2027. This authorization amends the company’s Second Amended and Restated Certificate of Incorporation.

What reverse stock split ratios can Greenland Mines (GRML) now use?

The board may implement one or more reverse stock splits at exchange ratios between 1‑for‑2 and 1‑for‑50, provided the aggregate exchange ratio of all reverse splits does not exceed 1‑for‑60. This gives flexibility to adjust the share count over time within a capped limit.

How many Greenland Mines (GRML) shares were outstanding and represented at the record and meeting dates?

On April 23, 2026, the record date, Greenland Mines had 121,238,660 common shares issued and outstanding. At the special meeting, holders of 45,111,132 shares were present in person or by proxy, which constituted a quorum for voting on the proposal.

What were the final voting results on Greenland Mines’ reverse stock split proposal?

The reverse stock split proposal received 42,878,771 votes for, 2,210,259 votes against, and 22,102 abstentions. There were no broker non‑votes. This level of support was sufficient to approve the proposal under the company’s voting requirements.

What happened to the proposal to adjourn the Greenland Mines (GRML) special meeting?

Because there were enough votes to approve the reverse stock split proposal at the special meeting, the contingent proposal to adjourn the meeting to solicit additional proxies became moot. It was not presented to stockholders and was not voted on.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Available on EDGAR 06/22/2026 - 12:01 PM Accepted by SEC EDGAR 06/22/2026 - 12:00 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 18, 2026

Greenland Mines Ltd.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-41340

86-2727441

(Commission File Number)

(IRS Employer

Identification No.)

1300 South Boulevard, Suite D

Charlotte, NC 28203

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (833) 931-6330

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock	GRML	The Nasdaq Stock Market LLC
Warrants	GRMLW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.07. Submission of Matters to a Vote of Security Holders

At a special meeting of stockholders of Greenland Mines Ltd. (the “Company”) held on June 18, 2026, the Company’s stockholders approved a proposal to approve one or more amendments of the Company’s Second Amended and Restated Certificate of Incorporation to effect one or more reverse stock splits of the Company’s outstanding common stock, with each reverse stock split at an exchange ratio between 1-for-2 and 1-for-50, as determined, from time to time by the Company’s Board of Directors at any time prior to and including March 31, 2027; provided that, the aggregate exchange ratio of all the Reverse Stock Splits does not exceed one-for-60 (the “Reverse Stock Split Proposal”). Approval of the Reverse Stock Split Proposal required the affirmative vote of the majority of the voting power of the outstanding shares of the Company’s Common Stock present in person or represented by proxy at the Special Meeting.

On April 23, 2026, the record date for stockholders entitled to notice of, and to vote at, the special meeting, 121,238,660 common shares of the Company were issued and outstanding. The holders of 45,111,132 common shares of the Company were present at the special meeting, either in person or represented by proxy, constituting a quorum. Set forth below are the final voting results for the Reverse Stock Split Proposal.

Proposal 1. Approval of the Reverse Stock Split.

For		Against		Abstain		Broker Non-Votes
42,878,771		2,210,259		22,102		0

Since there were sufficient votes represented at the special meeting to approve the Reverse Stock Split. the proposal to adjourn the special meeting to solicit additional proxies was moot and therefore not presented or voted on.

Item 9.01 Financial Statements and Exhibits.

Exhibits		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 22, 2026	GREENLAND MINES LTD.

	By:	/s/ Joseph Sinkule
	Name:	Joseph Sinkule
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Greenland Mines (GRML) holders approve broad reverse stock split authority

Rhea-AI Filing Summary

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