REG - Amaroq Minerals Ltd - GCAM Joint Venture Update

Amaroq MineralsAnnouncement

19/01/2023 18:15

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RNS Number : 3275N  Amaroq Minerals Ltd  19 January 2023

("Amaroq" or the "Corporation")

 

GCAM Joint Venture Update

 

TORONTO, ONTARIO - January 19, 2023 - Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ
First North: AMRQ) announces, further to its news release dated October 19,
2022, that it continues to progress towards the closing of its previously
announced joint venture transaction with GCAM LP (the "GCAM Transaction"),
which the Corporation expects to complete in line with the previously
announced timetable.

The Corporation has already satisfied several conditions needed to release the
£18.0 million subscription and the shareholders' agreement between the
Corporation, Nalunaq A/S and GCAM LP from escrow, and for the GCAM Transaction
to become effective, including obtaining the conditional approval from the TSX
Venture Exchange. Upon the resolution of the final regulatory and
administrative matters as set out in the news release dated October 19, 2022,
the Corporation expects to satisfy the remaining conditions needed to complete
the GCAM Transaction, which the Corporation expects to complete by the end of
Q1 2023 as previously disclosed.

Enquiries:

Amaroq Minerals Ltd.

Eldur Olafsson, Executive Director and CEO

+354 665 2003

eo@amaroqminerals.com

 

Eddie Wyvill, Investor Relations

+44 (0)7713 126727

ew@amaroqminerals.com

 

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart

Varun Talwar

Simon Mensley

Ashton Clanfield

+44 (0) 20 7710 7600

 

Panmure Gordon (UK) Limited (Joint Broker)

John Prior

Hugh Rich

Dougie Mcleod

+44 (0) 20 7886 2500

 

SI Capital Limited (Joint Broker)

Nick Emerson

+44 (0) 1483 413500

 

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Charlie Dingwall

+44 (0) 20 3757 4980

 

For Corporation updates:

Follow @Amaroq_Minerals on Twitter

Follow Amaroq Minerals Ltd. 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 Corporation'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
covering 7,866.85km(2), the largest mineral portfolio 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.

Forward-Looking Information

This news release contains forward-looking information within the meaning of
applicable securities legislation, which reflects the Corporation's current
expectations regarding future events and the future growth of the
Corporation's business. In this news release there is forward-looking
information based on a number of assumptions and subject to a number of risks
and uncertainties, many of which are beyond the Corporation's control, that
could cause actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such risks and
uncertainties include but are not limited to the factors discussed under "Risk
Factors" in the Corporation's annual information form available under the
Corporation's profile on SEDAR at www.sedar.com. Any forward-looking
information included in this news release is based only on information
currently available to the Corporation and speaks only as of the date on which
it is made. Except as required by applicable securities laws, the Corporation
assumes no obligation to update or revise any forward-looking information to
reflect new circumstances or events. No securities regulatory authority has
either approved or disapproved of the contents of this news release. 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.

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