Annual Report and Notice of Meeting

Amaroq

17/05/2024 16:52

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Toronto, Ontario, May 17, 2024 (GLOBE NEWSWIRE) -- (“Amaroq Minerals” or
the “Company”)

Annual Report and Notice of Meeting

TORONTO, ONTARIO – May 17, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ
Iceland: AMRQ), an independent mine development company with a substantial
land package of gold and strategic mineral assets in Southern Greenland,
announces that it has posted its Annual Report and Financial Statements for
the year ended December 31, 2023 and Notice of Annual and Special General
Meeting of Shareholders (“Meeting”) and Management Information Circular to
shareholders.

Copies of the documents are published on the Company's website at
https://www.amaroqminerals.com/investors/annual-general-meeting-2024/ and the
documents will also be available on SEDAR+ at www.sedarplus.ca.

The Meeting will be held remotely on Friday, June 14, 2024, at 10:00 a.m.
(Toronto time). Registered shareholders and duly appointed proxyholders will
be able to participate, vote and submit questions at the virtual meeting.
Instructions on how to join the virtual meeting are set out in the Notice of
Meeting.

Among the resolutions, shareholders will be asked to consider the Company’s
continuation from a corporation organized under the Canada Business
Corporations Act (the “CBCA”) to a corporation organized under the
Business Corporations Act (Ontario) (the “OBCA”) and to authorize the
Board of directors of the Company to set the number of directors.

The proposed resolution is driven Amaroq’s need to attract and appoint
directors with a broad range of skills and experience relevant to its
business. Under the CBCA, at least 25% of the directors of the Company must be
resident Canadians. The OBCA does not impose a director residency requirement.
In order to provide the Company with greater flexibility to attract and
nominate the most suitable candidates for directors from a global talent pool,
the Board believes that it is in the Company’s best interest to continue
into Ontario.
The transition is subject to certain regulatory approvals.

Seven of the eight persons nominated by the Board for election as directors
are currently Directors of the Company. Sander A.J.R. Grieve, a Bennett Jones
LLP partner, is nominated for election to the Board to fulfil the director
residency requirement, applicable as of the date of the AGM. His appointment
is conditional on due diligence carried out by the Company’s Nominated
Advisor Stifel Nicolaus Europe Limited. In accordance with prior agreement,
Sander A.J.R. Grieve will step down once the proposed continuance from the
Canada Business Corporations Act to the Business Corporations Act (Ontario) is
finalized.

In addition to the above, shareholders will be voting:
* to receive and consider the financial statements of the Corporation for the
financial year ended December 31, 2023 together with the report of the
auditors thereon;
* re-appoint BDO Canada LLP as the auditor of the Corporation for the ensuing
year
* to consider the amended Company’s stock option plan and restricted share
unit plan.
Enquiries:

Amaroq Minerals Ltd. 
Eldur Olafsson, Executive Director and CEO
eo@amaroqminerals.com 

Eddie Wyvill, Corporate Development
+44 (0)7713 126727
ew@amaroqminerals.com

Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)
Callum Stewart
Varun Talwar
Simon Mensley
Ashton Clanfield
+44 (0) 20 7710 7600 

Panmure Gordon (UK) Limited (Joint Broker)
Hugh Rich
Dougie Mcleod
+44 (0) 20 7886 2500

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Charlie Dingwall
+44 (0) 20 3757 4980 

For Company updates:
Follow @Amaroq_minerals on X (Formerly known as Twitter)
Follow Amaroq Minerals Inc. on LinkedIn

Further Information: 

About Amaroq Minerals 

Amaroq Minerals' principal business objectives are the identification,
acquisition, exploration, and development of gold and strategic metal
properties in Greenland. The Company's principal asset is a 100% interest in
the Nalunaq Project, an advanced exploration stage property with an
exploitation license including the previously operating Nalunaq gold mine. The
Corporation has a portfolio of gold and strategic metal assets in Southern
Greenland covering the two known gold belts in the region. Amaroq Minerals is
incorporated under the Canada Business Corporations Act and wholly owns
Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Inside Information

This announcement does not contain inside information.


Attachment
*     AMRQ - Notice of AGM
(https://ml-eu.globenewswire.com/Resource/Download/9549c169-ea90-40cb-b888-5288f12491ed)