Early Warning Report for Dinero Practico SAPI de CV ENR

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, March 07, 2019 (GLOBE NEWSWIRE) -- This press release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues, with respect to the filing of early warning reports regarding the disposition of common shares of Greenland Resources Inc. (“Greenland Resources” or the “Company”) by Dinero Practico SAPI de CV SOFOM ENR (“Dinero Practico”).

On March 7, 2019, Dinero Practico sold a total of 13,333,333 common shares of the Company (the “Common Shares”) through private sale at a price of $0.15 per Common Share, for an aggregate price of $1,999,999.95 (the “Distribution”). As a result of the Distribution, the security-holding percentage of Dinero Practico decreased from approximately 20.65% to 2.69% of the Company’s issued and outstanding Common Shares on a partially diluted basis. A copy of the early warning report is available on the Company’s profile at www.sedar.com.

Dinero Practico has disposed the above-noted Common Shares for financial reasons related to investment objectives. The Acquiror may in the future take such actions in respect of its holdings in Greenland Resources as it may deem appropriate based on its assessment of market conditions and any other conditions it considers relevant at the time, including the purchase of additional Common Shares through open market or privately negotiated transactions or the sale of all or a portion of Dinero Practico’s holdings in the open market or in privately negotiated transactions to one or more purchasers, subject in each case to applicable securities laws.

For information regarding Dinero Practico, please contact:

Javier Pastrana Tamez, Director
AV Insurgentes sur 1390
Altos Actipan, Ciudad de Mexico, Mexico 03230
javier.pastrana@dineropractico.net

About Greenland Resources Inc.

Greenland Resources is a Canadian public company regulated by the Ontario Securities Commission, focused on the acquisition, exploration and development of properties for the mining and processing of gold. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) as well as our Canadian regulatory filings on SEDAR at www.sedar.com.

For further information please contact:

CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, the potential acquisition of an advanced gold exploration project in Colombia, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, the availability of financing, the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the inability to identify and complete the potential acquisition of an advanced gold exploration project in Colombia on terms which are economic or at all, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates including the costs of operations in remote mountainous environments, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.