Klotho Neurosciences, a Nasdaq-listed biotechnology company, announced the acquisition of Greenland Mines Corp., securing control of the Skaergaard Project in Southeast Greenland—one of the largest undeveloped palladium, gold, and platinum deposits in the world.
The transaction gives Klotho an 80% interest in the project, with an option to acquire the remaining 20%, and it represents a strategic shift that combines biotechnology with large-scale natural-resource development.
The deal was formalized through a definitive merger agreement signed on March 3, 2026, with closing completed on March 4, 2026. Following the acquisition, Klotho will operate two primary divisions: a Natural Resources unit dedicated to advancing the Skaergaard mining project and a Cell and Gene Therapy unit focused on the company’s biotechnology programs, including its KLTO-202 therapy targeting ALS.
The Skaergaard deposit is widely regarded as a unique geological formation. First discovered in 1935, the layered mafic intrusion has been studied extensively by academic and government institutions, including Cambridge University, Caltech, and the Geological Survey of Denmark and Greenland. In 1986, researchers confirmed a large strata-bound gold and palladium deposit known as the “Triple Group,” which spans multiple mineralized horizons.
A 2022 NI 43-101 technical report established an indicated and inferred mineral resource totaling approximately 364.37 million tons grading 2.17 grams per ton palladium equivalent. This includes 158.95 million tons in the indicated category grading 2.22 grams per ton palladium equivalent. Combined, the resource represents about 25.4 million ounces of palladium equivalent and 23.5 million ounces of gold equivalent.
Based on February 2026 metal prices, the project carries an estimated gross in-situ resource value of roughly $68 billion, including approximately $30.8 billion in palladium, $34.8 billion in gold, and $3 billion in platinum. The resource remains open in multiple directions, and the company believes future drilling could significantly expand the estimate.
More than $100 million has been invested historically in exploration and drilling at the site, including around 45,000 meters of diamond drilling. The project currently holds exploration permits and benefits from established site access infrastructure, including an airstrip, helicopter logistics, and seasonal maritime transport via nearby fjords.
Following the merger, the leadership team of Greenland Mines will join Klotho’s management structure to oversee the mining division. The company also plans to change its corporate name and stock ticker later in March 2026, though shareholders will not need to take any action for the change to take effect.
The strategic rationale behind the acquisition extends beyond the value of the mineral resource itself. Palladium and platinum group metals are considered critical minerals due to their importance in automotive emissions control systems, defense technologies, electronics, and clean energy applications. Global supply of these metals is highly concentrated, with the majority coming from Russia and South Africa, creating supply chain vulnerabilities for Western economies.
According to the company, the Skaergaard project’s palladium and gold resources could represent roughly 13 to 15 years of total U.S. palladium consumption. In addition to precious metals, the project may also contain critical minerals such as gallium, germanium, and vanadium, which are essential for semiconductors, advanced electronics, high-strength steel alloys, and grid-scale energy storage technologies.
Gallium is a key material in compound semiconductors such as gallium arsenide and gallium nitride, which support applications including 5G infrastructure, radar systems, and electric vehicles. Vanadium plays a crucial role in high-strength steel manufacturing and is gaining importance in vanadium redox flow batteries used for long-duration energy storage.
Klotho stated that these additional mineral streams could enhance the project’s economic resilience by diversifying revenue sources and reducing reliance on a single commodity price cycle.
As part of the transaction, Greenland Mines Corp. shareholders will receive convertible preferred stock. Upon conversion, which remains subject to shareholder approval, Greenland Mines is expected to hold approximately 93% of Klotho’s fully diluted shares outstanding. For accounting purposes, the deal is expected to be treated as a reverse merger.
Through this acquisition, Klotho aims to establish itself as a diversified company combining biotechnology innovation with strategic natural resource development tied to Western supply security for critical minerals.
KEY QUOTES:
“Today marks a defining chapter for Klotho Neurosciences and our shareholders. The Skaergaard Project is truly extraordinary — an approximately $68 billion in-situ resource in palladium, gold, and platinum, sitting in one of the most geopolitically secure jurisdictions on earth, less than 1,600 kilometers from the U.S. This is the kind of asset that reshapes a company’s trajectory overnight, and our shareholders now have direct ownership in it. We are pairing this world-class mineral asset with our existing biotech platform, creating a uniquely diversified company that gives investors exposure to both cutting-edge life sciences and strategic natural resources. We believe this to be an important opportunity to significantly contribute to the mission of securing Western access to critical minerals.”
Dr. Joseph Sinkule, CEO of Klotho Neurosciences
“This acquisition marks a transformational moment — not just for our shareholders, but for American and European strategic resource security. The Skaergaard Intrusion is one of the most significant undeveloped palladium and gold deposits on the planet, located in Greenland, one of the safest and most accessible jurisdictions in the world. At a time when the U.S. and Europe are acutely aware of their dependence on Russia and South Africa for critical platinum group metals essential for vehicle emission systems, refining operations, clean energy technologies, and defense applications — Greenland Mines Corp. offers a credible, large-scale, and fully permitted Western alternative.”
“Combined with its world-class gold resource and the potential for substantial additional critical metal by-product streams from minerals such as gallium and vanadium, the Project represents a robust, highly attractive, and diversified value proposition. In a tightening global supply environment, strengthening transatlantic access to critical minerals is not optional — it is a strategic imperative. We are just getting started in demonstrating the full scale and value of this asset, and we are deeply proud of what we will build for our shareholders, for Greenland, and for the future of Western critical mineral supply.”
Bo Møller Stensgaard, CEO of Greenland Mines Corp.
