Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) reported that the settlement and admission of the 31,979,652 company common shares in relation to the UK placing and Canadian subscription, as detailed in the announcements on October 19 and 20, 2022, is now expected to occur on November 3, 2022.
On October 20, Amaroq announced the successful completion of its proposed fundraising as unveiled on October 19, 2022, raising gross proceeds of £30 million (C$47 million).
The company said a total of 85,714,285 new common shares have been conditionally placed with new and existing institutional investors at a price of 35p (C$0.54) each. Out of the total fundraising shares, a total of 53,734,633 Icelandic Depositary Receipts were conditionally placed as part of the Icelandic placing at 56.77 Icelandic kroner each.
READ: Amaroq Minerals announces initial closing of fundraising for proceeds of C$29M
In a statement at the time, Eldur Olafsson, CEO of Amaroq, commented: “I am delighted to announce the results of the fundraising, which will prove transformational for Amaroq as we bring our cornerstone Nalunaq project towards production.”
“I would like to welcome our new investors as well as thank all existing shareholders for their continued support, and I look forward to providing further updates as we continue to drive growth across our exciting precious and strategic materials portfolio.”
Certain directors participated in the Canadian subscription, acquiring a total of 4,972,871 new common shares representing gross proceeds of pounds £1.74 million (C$2.7 million).
Amaroq Minerals' principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in Greenland.
Contact Sean at sean@proactiveinvestors.com