KLOTHO NEUROSCIENCES INC.

Effective at market open, Klotho Neurosciences will be renamed Greenland Mines and will change its NASDAQ ticker to GRML; existing shareholders do not need to take any action. The company will be organized into Natural Resources, focused on the Skaergaard project in southeast Greenland (80% interest, option on an additional 20%), and Cell and Gene Therapy, including KLTO-202 for ALS. An NI 43-101 report for the Skaergaard project reports 25.4 million ounces palladium‑equivalent and 23.5 million ounces gold‑equivalent, but there is no preliminary economic assessment or feasibility study; mineral resources are not proven reserves. The balance sheet shows more cash than debt, and an investor webcast on the takeover and strategy is scheduled for 4:15 p.m. ET. » Más en de.investing.com

Klotho Neurosciences has acquired Greenland Mines, thereby obtaining an 80% interest in the Skaergaard project in southeast Greenland. The 2022 NI 43-101 resource estimate cites 364.37 million tonnes at 2.17 g/t palladium equivalent (about 25.4 million oz Pd‑equivalent and 23.5 million oz gold‑equivalent in the indicated and inferred categories). Consideration is being paid in convertible preferred shares; after conversion Greenland Mines would hold roughly 93% of the diluted shares and the transaction is expected to be accounted for as a reverse merger. Klotho plans to operate two business units (Natural Resources and Cell and Gene Therapy), will retain the CEO and CFO, intends to change its name to Greenland Mines at the end of March, and notes that no economic feasibility studies have been completed. » Más en de.investing.com

Klotho Neurosciences sold 3,400 newly created Series C preferred shares at $4,400 each to Sigma9 Capital; each preferred share is convertible into 10,000 common shares, and a conversion restriction prevents conversions that would result in exceeding 9.99% of outstanding common shares. The closing is subject to customary closing conditions and is expected to occur no later than December 31, 2025; the shares will be issued in a private placement without selling commissions and will be subject to transfer restrictions. Klotho also signed a letter of intent to acquire selected assets from Turn Biotechnologies, amended a subscription agreement with the Meteora fund, and received a Nasdaq notice for failure to meet the minimum bid price with a deadline of March 18, 2026 to cure the deficiency. » Más en de.investing.com