Amaroq Minerals Announces Initial Closing of Fundraising and Issuance and Acceptance of Icelandic Placing Shares | Tech US News

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TORONTO, ON / ACCESSWIRE / October 31, 2022 / Amaroq Minerals Ltd. (“Amaroq” or “Company“) (AIM:AMRQ) (TSXV:AMRQ) (formerly AEX Gold), an independent mine development company with a substantial gold land package and strategic mineral assets covering an area of ​​7,866.85 km2 in South Greenland, in addition to its announcements on October 19 and October 20, 2022 of a total fundraising total of £30 million (C$47 million, ISK 4.9 billion), today announces its initial close, raising 29,016. 701.80 Canadian dollars in Iceland by placing 53,734,633 ordinary shares of the Company (“Icelandic Fundraising“), which were issued and admitted to trading on AIM and the TSX Venture Exchange today (“TSXV“).

Shares will be listed as certificates of ownership (“Certificates of the Icelandic depositary” or “IDR“) on the Nasdaq First North Growth Market in Iceland (“First, North Iceland“).

Nasdaq Iceland hf. (“Nasdaq“) approved the company’s request to admit the IDR to trading on First North Iceland under the symbol AMRQ. The ISIN number of the IDR is IS0000034569. A description of the company is available on the company’s website: https://www.amaroqminerals.com/investors/documents-circulars/

53,734,633 IDR will be accepted for trading, with each IDR having a face value of 1 ISK.

It is expected to be the first day of trading on First North Iceland November 1, 2022. Nasdaq will publish a market announcement no later than one day before the scheduled first day of trading on First North Iceland.

Arion Bank hf. and Landsbankinn hf. acted as agents in connection with Icelandic Fundraising. In exchange for their services, the agents received a cash commission of C$1,668,318.03.

An application has been made to admit the remaining 31,979,652 Ordinary Shares, comprising the UK Issued Shares and the Canadian Listed Shares, to AIM and the TSXV, with admission expected on AIM at 08:00 GMT and on the TSXV on 2 November. 2022.

Capitalized terms not otherwise defined in this announcement shall have the meanings set forth in the Company’s Fundraising Announcement dated October 19, 2022.

Nasdaq First North A growing market

The Nasdaq First North Growth Market is a registered SME growth market under the Markets in Financial Instruments Directive (EU 2014/65) as implemented in the national legislation of Denmark, Finland, Iceland and Sweden, operated by an exchange within Nasdaq. group. Issuers on the Nasdaq First North Growth Market are not subject to the same rules as issuers on the Regulated Main Market as defined in EU law (as implemented in national law). Instead, they are subject to a less extensive set of rules and regulations tailored to small, growing businesses. The risk of investing in an issuer on the Nasdaq First North Growth Market may therefore be greater than investing in an issuer on the Main Market. All issuers with shares admitted to trading on the Nasdaq First North Growth Market have a certified advisor to monitor compliance. The relevant Nasdaq stock exchange approves the application for admission to trading.

Certified consultant

Arion Bank hf., reg. no. 581008-0150, Borgartún 19, 105 Reykjavík, which is a member of Nasdaq Iceland hf. and has a signed contract, is an authorized consultant of the company in the process of application and listing on First North Iceland. Arion Bank has a full banking license under the Financial Companies Act no. 161/2002 and is regulated by the Icelandic Financial Supervisory Authority. The company decided to fully monitor the stock market after the Icelandic depository receipts were admitted to trading.

Inquiry:

Amaroq Minerals Ltd.
Eldur Olafsson, CEO and CEO
+354 665 2003
This email address is being protected from spambots. Please enable JavaScript to view it.

Eddie Wyvill, Investor Relations
+44 (0)7713 126727
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Arion Bank hf. (Certified Consultant)
Hreidar Mar Hermannsson
Elka Osk Hrolfsdottir
Erlendur Magnus Hjartarson
+354 444 7000

Stifel Nicolaus Europe Limited (Appointed Adviser and Broker)
Callum Stewart
Varun Talwar
Simon Mensley
Ashton Clanfield
+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (joint broker)
John Prior
Hugh Rich
Dougie Mcleod
+44 (0) 20 7886 2500

SI Capital Limited (Common Broker)
Nick Emerson
Charlie Stephenson
+44 (0) 1483 413500

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Charlie Dingwall
+44 (0) 20 3757 4980

For company updates:

Follow @Amaroq_minerals on Twitter
Follow Amaroq Minerals Inc. on LinkedIn

Further information:

About Amaroq Minerals

The main business objectives of Amaroq Minerals are the identification, acquisition, exploration and development of gold and strategic metal properties in Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Project, an advanced stage exploration property with an exploitation permit, including the previously operating Nalunaq gold mine. The corporation has a portfolio of gold and strategic metal assets covering 7,866.85 km2, the largest mineral portfolio in southern Greenland, spanning two of the region’s known gold belts. Amaroq Minerals is registered under Canada Corporations Act and is the full owner of the company Nalunaq A/S, registered under Greenland Public Enterprises Act.

Forward-looking information

This press release contains forward-looking information within the meaning of applicable securities laws that reflects the Company’s current expectations regarding future events and the future growth of the Company’s business. This press release contains forward-looking information that is based on numerous assumptions and is subject to numerous risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those disclosed. in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the final prospectus available under the Company’s profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Company and speaks only as of the date it is made. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has approved or disapproved of the contents of this press release.

Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the TSX Venture Exchange Policies) assumes responsibility for the adequacy or accuracy of this publication.

Internal information

This notice does not contain inside information.

Notice to persons abroad

This publication is not intended for publication or distribution, directly or indirectly, in or within the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States except pursuant to an applicable exemption from registration. There is no public offering of securities in the United States.

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