80 Mile, Greenland Energy Agree to All-Share Combination

02:06 AM EST, 11/13/2026 (MT Newswires) -- 80 Mile (80M.L) and Greenland Energy agreed to combine through an all-share transaction that values the exploration and development company at 74 million pounds sterling on a fully diluted basis. Under the terms, 80 Mile shareholders would receive 0.0079485 newly issued Greenland Energy shares for each share held, valuing each 80 Mile share at 0.0128 pound per share based on Greenland Energy's Nov. 11 closing price, according to a Thursday release. 80 Mile's independent directors consider the terms fair and reasonable and intend to recommend them unanimously. Greenland Energy's board has also approved the deal. After completion, shareholders of each company would hold equal stakes in the enlarged group. Completion is subject to shareholder, court, and regulatory approvals.