Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) said it has completed its previously-announced financing, raising C$17,364,068 through the issuance of 18,493,925 company common shares in a UK Placing as well as 13,485,727 Amaroq common shares in the Canadian Subscription.
The Greenland-focused independent mine development company noted that certain Amaroq directors and members of its senior management team participated in the Canadian Subscription, purchasing 4,972,871 Canadian Subscription shares for gross proceeds of C$2,700,131.63.
The company added that Stifel Nicolaus Europe Limited and Panmure Gordon (UK) Limited acted as agents in connection with the UK Placing, receiving a cash commission equal to C$451,311 (£290,915) in consideration for their services.
READ: Amaroq Minerals reveals fundraising settlement date
Amaroq said following the admission of the UK Placing and Canadian Subscription shares, the company's total issued share capital consists of 263,073,022 common shares of no par value.
Shares issued in the fundraising have been admitted to trading on AIM and the TSX Venture Exchange (TSXV) and all Canadian Subscription shares are subject to a four-month hold period that will expire March 4, 2023, and are subject to final acceptance of the TSXV, according to the company.
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