Anortech Receives US$1.0 Million Cash and Shares from Sarfartoq Ree Project Transaction

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Postmedia has not reviewed the content. by GlobeNewswire Anortech Receives US$1.0 Million Cash and Shares from Sarfartoq Ree Project TransactionAuthor of the article:VANCOUVER, British Columbia, Sept. 03, 2026 (GLOBE NEWSWIRE) — AnorTech Inc. (“AnorTech” or the “Company”) (TSX Venture Exchange “ANOR”; OTCQB “ANORF”) is pleased to announce that, the Company has received cash and shares following the closing of Greenland Mines Ltd.’s acquisition of the Sarfartoq rare earth element (“REE”) project in Greenland from Neo Performance Materials Inc.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountUnder the terms of AnorTech’s agreement with Neo (see NR2026-02), the Company was entitled to receive 5% of the total consideration received in connection with the transfer of the license. Consequently, AnorTech has now received US$1.0 million (C$1.38 million) in cash plus 70,000 shares of Greenland Mines. Following completion of the transaction, AnorTech now holds an aggregate of 318,000 shares of Greenland Mines, which trades on the Nasdaq exchange in the United States.Neo Performance Materials Inc. (TSX: NEO) became a strategic shareholder of Greenland Mines in connection with the transaction and retains offtake rights for up to 60% of future Sarfartoq ore or mineral concentrate production for processing at its Silmet rare earth separation facility in Estonia.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againJim Cambon, President of AnorTech, commented: “We are very pleased to see the Sarfartoq transaction close and to have Greenland Mines now leading the advancement of this exciting neodymium-rich project, which we believe holds significant unrealized value. This transaction provides AnorTech with US$1.0 million in non-dilutive cash proceeds, strengthening our financial position as we continue to advance our anorthosite-based sustainable alumina initiatives. Our Greenland Mines shareholding also provides exposure to their Skaergaard project in southeast Greenland which is one of the largest gold-palladium-platinum deposits globally. We look forward to working with Greenland Mines as they advance their Greenland projects and to continuing our own discussions with potential strategic and industry partners.”AnorTech is pioneering the next generation of sustainable materials from anorthosite. The Company owns 100% of the Gronne Bjerg anorthosite project in Greenland – strategically located just 80 km northeast of Nuuk, the capital of Greenland, on open tidewater and adjacent to significant hydroelectric potential.AnorTech is advancing multiple product lines towards commercialization, including:Zero-waste Smelter Grade Alumina (SGA) and High Purity Alumina (HPA)Next generation alumina-based catalysts for CO2 captureCO2-free refractory cement and advanced 3D-printable cementLunar construction materials using anorthosite-based concreteThe Company filed a U.S. provisional patent in 2025 to protect its proprietary sustainable SGA and HPA process (see NR2025-01) and shipped 15 tonnes of Gronne Bjerg anorthosite to Ontario in preparation for pilot plant testing. AnorTech is actively pursuing strategic industry partnerships to accelerate commercialization of its alumina technologies. AnorTech has over C$3 million in working capital.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.ON BEHALF OF THE BOARD OF DIRECTORSForfurtherinformation:Ph: 778-373-2164www.anortechinc.comNeithertheTSXV nor itsRegulationServicesProvider(asthattermisdefinedinthepoliciesoftheTSXV) accepts responsibility for the adequacy or accuracy of this release.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. The Company uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the future advancement and development of the Sarfartoq project; the potential benefits of AnorTech’s investment in Greenland Mines; the commercialization of AnorTech’s alumina and other anorthosite-based technologies; the Company’s ongoing discussions with potential strategic and industry partners; ; and the expected benefits of the strategic relationship between AnorTech and Greenland Mines. Such forward-looking statements are based on a number of assumptions of management, including, without limitation: that Greenland Mines may elect to exercise the Option and will have the resources to do so; that the strategic relationship will provide both parties with the expected benefits; and that market conditions will remain favorable for critical metals projects and alumina technologies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things: adverse market conditions; general economic, market or business risks; unanticipated costs; delays or changes in the development of Sarfartoq; technical or commercial challenges associated with AnorTech’s technologies;; the failure by either or both parties to realize the expected benefits of the strategic relationship; changes in demand for critical minerals or alumina; and the risks and uncertainties described in the Company’s most recent Management Discussion & Analysis filed on SEDAR+, which can be accessed at the Company’s profile on www.sedarplus.com. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.