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2024-07-02 08:00:00 CEST 2024-07-02 08:00:01 CEST REGLERAD INFORMATION Amaroq Minerals Ltd. - Inside informationHeads of Terms agreed for US$35 million Revolving Credit FacilityToronto, Ontario, July 02, 2024 (GLOBE NEWSWIRE) -- (“Amaroq Minerals” or the “Company”) Heads of Terms agreed for US$35 million Revolving Credit Facility New agreement replaces undrawn US$18.5 million facility for construction activities TORONTO, ONTARIO – 2 July 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, is pleased to announce that it has agreed heads of terms, subject to final documentation, with Landsbankinn for US$35 million in three Revolving Credit Facilities (the "Facilities"), securing a substantial increase and extension to its current debt facilities. Eldur Olafsson, Amaroq CEO, commented: “We are very pleased to have successfully arranged a substantial increase and extension of our currently undrawn debt financing package with Landsbankinn. In addition to simplifying the structure of our debt package under one single agreement at more favourable rates, the new Facilities strengthen our liquidity and provide us with further financial flexibility for years to come. “With a long-term debt agreement now secured for general purposes, we are committed to maintaining a strong capital management plan as we progress the development of our cornerstone Nalunaq project in South Greenland towards First Gold this year.” Highlights
Enquiries: Amaroq Minerals Ltd. Eddie Wyvill, Corporate Development Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker) Panmure Liberum (UK) Limited (Joint Broker) Camarco (Financial PR) For Company updates: Further Information: About Amaroq Minerals Amaroq Minerals' principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company's principal asset is a 100% interest in the past producing Nalunaq Gold mine which is due to go into production towards the end of 2024. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) 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 contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 on Market Abuse ("UK MAR"), as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, and Regulation (EU) No. 596/2014 on Market Abuse ("EU MAR"). Attachment ![]() |
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