Energy Transition Minerals Ltd has appointed New York investment bank Cohen & Company Capital Markets as exclusive US financial advisor as it explores pathways into US capital markets, including a potential Nasdaq listing.
The mandate covers listing execution, transaction structuring, strategic M&A advice and capital raising support. Options under review include a dual listing and a potential SPAC business combination through a merger with an existing US-listed vehicle.
Any move remains subject to market conditions, regulatory approvals and strategic priorities, with no certainty a transaction will proceed.
US listing rationale: liquidity, capital access, critical minerals theme
A Nasdaq presence is being considered to tap deeper liquidity and a larger institutional investor base, alongside the potential for improved valuation metrics for critical minerals exposure.
The strategy also aligns ETM’s flagship Kvanefjeld rare earths project in Greenland with Western supply-chain security priorities for energy transition and defence-related applications, amid increased policy focus on reshoring and securing non-Chinese critical minerals sources.
Advisor credentials highlighted and advisory board strengthened in Denmark, US addition flagged
Cohen & Company was selected for its US capital markets capabilities and its activity in the SPAC market during 2025, including involvement in several critical minerals-related transactions.
ETM has also expanded its international advisory board with the appointments of former Danish foreign minister Jeppe Kofod and former Danish ambassador Friis Arne Petersen.
A further US-based advisor is planned as the group looks to accelerate North American engagement.
Kvanefjeld legal process moves to merits stage
On the legal front, proceedings relating to the grant of an exploitation licence for Kvanefjeld have advanced, with the matter now moving to the merits before the High Court of Greenland.
A case management conference has been scheduled for January 12, 2026, with a timetable expected to be set after that hearing.
Separately, an arbitral tribunal seated in Copenhagen has ruled it does not have jurisdiction to determine the right to an exploitation licence, while allowing contractual and damages claims against the Government of Greenland to proceed to arbitration once the Greenland court process concludes.
In Denmark, the City Court of Copenhagen has also ruled Greenlandic authorities will not be parties to the Danish proceedings, clearing the way for claims against the Danish Government to progress after the Greenland matter is finalised.