Klotho Neurosciences Inc. (NASDAQ:KLTO) on Wednesday announced the acquisition of Greenland Mines Corp.
Greenland Mines‘ Palladium/Gold Deposits Worth $68 Billion
Privately held Greenland Mines controls an 80% interest in, and has an option to acquire the remaining 20% of, the Skaergaard Project in Southeast Greenland, one of the largest and most significant undeveloped palladium, gold, and platinum deposits.
According to the 2022 NI 43-101 Indicated and Inferred Mineral Resource, the Skaergaard Project hosts 25.4 Moz PdEq and 23.5 Moz AuEq with a gross undiscounted in-situ resource value of approximately $68 billion based on February 2026 metal prices.
The company believes the current resource estimate does not represent the true scope of Skaergaard.
The deposit remains open in all directions. Drilling campaigns have continuously returned consistent positive grades and widths.
New Entity
The company will now operate under two strategic operating divisions: Natural Resources, focused on the exploration and development of the Skaergaard Project in Southeast Greenland; and Cell and Gene Therapy, including Klotho’s KLTO-202, primary indication for ALS.
Post-closing, Klotho’s CEO and CFO will remain in place.
The Greenland Mines leadership team, led by CEO Bo Møller Stensgaard, will join the management team to operate the Greenland Mining division, and one new Board member will be added.
Transaction Details
Full consideration for the transaction is payable in convertible preferred stock. On an as-converted basis, Greenland Mines will own approximately 93% stake in the entity.
The company intends to change its name to Greenland Mines and its stock ticker in late March 2026.
In July, Klotho Neuroscience received a NASDAQ notification that KLTO stock has full compliance with all continued listing requirements and will remain listed
KLTO Price Action: Klotho Neurosciences’ stock is down 3.40% at $0.52 during the premarket session at the last check on Wednesday, according to Benzinga Pro data.
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