21.02.2024 19:09:16

Amaroq publishes a Supplementary Prospectus in connection with Fundraising

TORONTO, ONTARIO, Feb. 21, 2024 (GLOBE NEWSWIRE) -- ("Amaroq" or the "Corporation" or the "Company"

Amaroq publishes a Supplementary Prospectus in connection with Fundraising

TORONTO, ONTARIO – 21 February 2024 – Amaroq Minerals Ltd. (AIM, TSX-V, Nasdaq Iceland: AMRQ), an independent mining company with a substantial land package of Gold and strategic energy transition mineral assets in Southern Greenland, announces publication of a Supplementary Prospectus, consisting of a Supplement to the Registration Document dated 12 September 2023 and a Securities Note, along with a Summary, all dated 21 February 2024, related to fundraising, details of which were disclosed in announcements on 12 and 13 February 2024.

The Supplementary Prospectus dated 21 February 2024, has been approved by the Financial Supervisory Authority of the Central Bank of Iceland. The Supplementary Prospectus which is written in  English, has been published electronically to the company’s website https://www.amaroqminerals.com/investors/documents-circulars/.

In compliance with regulatory requirements, the Supplementary Prospectus includes information from the management accounts for the year ended December 31, 2023. That information, which is unaudited and has not previously been published, is provided below. The audited financial statements for the year ended 31 December 2023 are expected to be released on 25 March 2024.

Selected Financial Information

LIABILITIESC$, December 31, 2023
Current liabilities – unguaranteed and unsecured 
Accounts payable and accrued liabilities6,273,978
Lease liabilities – current portion80,206
 6,354,184
Current liabilities –guaranteed and secured 
Convertible notes36,018,312
 36,018,312
Non-current liabilities – unguaranteed and unsecured 
Lease liabilities577,234
 577,234
Total liabilities- unguaranteed and unsecured6,931,418
Total liabilities- guaranteed and secured36,018,312
Total liabilities42,949,730
EQUITY 
Capital stock131,883,371
Contributed surplus6,960,168
Accumulated other comprehensive loss(36,772)
Deficit(75,580,698)
Total equity63,226,068
Total liability and equity106,175,799

Enquiries:

Amaroq Minerals Ltd. 
Eldur Olafsson, Executive Director and CEO
eo@amaroqminerals.com 

Eddie Wyvill, Corporate Development 
+44 (0)7713 126727
ew@amaroqminerals.com

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

Landsbankinn hf. (Listing Agent)
Ellert Arnarson
Ellert.Arnarson@landsbankinn.is

Fossar Investment Bank (Advisor)
Thordur Hlynsson
Thordur.hlynsson@fossar.is
+354 896 7641

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 

Amaroq Minerals' principal business objectives 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 exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region. Amaroq Minerals is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Inside Information
This announcement does not contain inside information.

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