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Greenland Minerals receives funds, directors also increase stake

The options were exercising at a slight premium to the share price.
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Funds will likely be used for advancing the flagship Kvanefjeld Project in Greenland

Greenland Minerals Ltd (ASX:GGG) has received another cash injection from an option exercise worth $466,622.

5.83 million options were exercised at 8 cents generating the cash funding for the company.

Notably, with the company’s shares are trading at 7.9 cents, meaning the option exercise was at a slight premium to the share price.

Two directors buy shares in the company

Some of these options were exercised by board chairman Anthony Ho and director Simon Cato.

Ho exercised $27,000 worth of options and Cato exercised $5,742 worth of the options.

The share acquisitions increased Ho’s total holding to 3.52 million shares and Cato’s total holding to 6.38 million shares.

READ: Greenland Minerals gets another cash injection from options exercise

Notably, this is the third option exercise since August 2018.

The funds will be used by the company to continue its work advancing its flagship Kvanefjeld Project in Greenland.

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