Business
Debt Financing Update
Debt Financing Update.
About this update from Amaroq Ltd.
[{"type":"text","content":"\n\n\n(\"Amaroq\" or the \"Corporation\" or the \"Company\")\n \nDebt Financing Update\nTORONTO, ONTARIO - August 11, 2023 - Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ First North: AMRQ) provides an update on its debt financing, announced on March 28, 2023.\nAmaroq continues to finalise the terms and conditions of the debt financing and expects to close the transaction by the end of August 2023. The debt financing consists of an increased US$50.9 million senior secured package, including:\n(i) US$18.5 million in senior debt term loans pursuant to revolving credit facilities provided by Landsbankinn hf. and Fossar Investment Bank;\n(ii) US$22.4 million in convertible notes with ECAM LP, JLE Property Ltd. and Livermore Partners LLC; and\n(iii) an overrun loan from JLE Property Ltd. of up to US$10 million under a revolving credit facility.\nThe financing remains subject to the completion of final documentation and agreement by the parties to all terms and conditions. In addition, the debt financing remains subject to the final approval of the TSX Venture Exchange and satisfaction by the Company of all of the requirements of the TSX Venture Exchange.\nThis news release is not for release, publication, distribution, directly or indirectly, in or into the United States of America or any other jurisdiction in which such release, publication or distribution would be unlawful. This news release is for information purposes only and does not constitute an offer to sell or issue, or a solicitation of an offer to buy, subscribe for or otherwise acquire any of the securities described herein in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia (collectively, the \"United States\")) or any other jurisdiction in which such offer or solicitation would be unlawful or to any person to whom it is unlawful to make such offer or solicitation. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws. The securities may not be offered or sold within the United States, except pursuant to an applicable exemption from th...