Business
Closing of Strategic Acquisitions, Total Voti...
Amaroq Ltd. has successfully closed two strategic acquisitions, Black Angel Mining A/S and the Kangerluarsuk licences, creating the West Greenland Hub. The company issued 7,654,222 shares to FBC Mining and 392,939 shares to 80 Mile plc as consideration. These acquisitions are considered related party transactions, but Amaroq is relying on exemptions from formal valuation and minority approval requirements as the fair market value of the transactions does not exceed 25% of the company's market capitalization. Following these issuances and the allocation of 562,449 shares under incentive plans, Amaroq's total issued share capital now stands at 463,648,822 common shares. Trading admission for the newly issued shares on AIM and the Icelandic Exchange is expected on December 30, 2025. Disclaimer*
About this update from Amaroq Ltd.
[{"type":"text","content":"\n\n \n \n\n Closing of Strategic Acquisitions, Total Voting Rights, and Notification of Transactions of Persons Discharging Managerial Responsibilities\n\nReykjavík, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.(“Amaroq” or the “Company”) Closing of Strategic Acquisitions, Total Voting Rights, and Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMR) 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. 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”). 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. Pursuant to MI 61-101, related party transactions require a formal valuation and minority shareholder approval unless exemptions from these requirements are available. With respect to the Black Angel acquisition, the Company is relying on the exemption from the formal valuation requirements and minority approval requirements in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the Company’s market capitalisation. Following the issuance of the Closing Shares, t...