Closing of Strategic Acquisitions, Total Voting Rights, and Notification of Transactions of Persons Discharging Managerial Responsibilities

About this update from 80 Mile Plc

[{"type":"image","alt":"Amaroq Ltd.","displaySize":"","headline":null,"caption":"Amaroq Ltd.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":200,"url":"https://media.zenfs.com/en/globenewswire.com/9c2492ba781d8ab8ead99c01e802bc7c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4JyPevEdlM5T6Wtw9XmNBA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI4MDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/9c2492ba781d8ab8ead99c01e802bc7c","width":300,"height":200}},"lazy":false},{"type":"text","content":"Reykjavík, Dec. 23, 2025 (GLOBE NEWSWIRE) -- ","length":44,"tagName":"p"},{"type":"text","content":"Amaroq Ltd.(“Amaroq” or the “Company”)","length":39,"tagName":"p"},{"type":"text","content":"Closing of Strategic Acquisitions, Total Voting Rights, and Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMR)","length":146,"tagName":"p"},{"type":"text","content":"TORONTO, ONTARIO – 23 December 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, is pleased to announce the closing of the previously announced acquisitions of the entire issued share capital of Black Angel Mining A/S (“Black Angel”) from FBC Mining (BA) Limited (“FBC Mining”) and of the Kangerluarsuk licences from 80 Mile plc, (the “Acquisitions”) together creating the West Greenland Hub.","length":507,"tagName":"p"},{"type":"text","content":"As consideration for the Acquisitions, the Company issued 7,654,222 common shares of the Company to FBC Mining (the “Black Angel Closing Shares”), and 392,939 common shares of the Company to 80 Mile plc (the “Kangerluarsuk Closing Shares”) (together the “Closing Shares”).","length":272,"tagName":"p"},{"type":"text","content":"As previously announced, the acquisition of Black Angel represented a related party transaction for the purposes of AIM Rule 13 of the AIM Rules for Companies and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), and is also considered a transaction with a Non-Arm’s Length Party within the meaning of the TSX Venture Exchange ("TSX-V"), by virtue of the fact that the ultimate parent company of Black Angel, BAMAS ehf. (“BAMAS”), is controlled by certain directors of Amaroq.","length":5...

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