Fossar Joint Bookrunner in private placement for Amaroq Minerals
Amaroq Minerals Ltd., an independent mining company with a substantial land package of gold and strategic energy transition mineral assets in Southern Greenland, completed its significantly oversubscribed proposed private placement on February 12th 2024. Net proceeds raised in excess of the initially targeted £30 million will be used to further advance exploration at the Company’s Vagar and Nanoq licenses and to fund an additional capital injection into its Gardaq joint venture.
A total of 62,724,758 new common shares have been conditionally placed with new and existing institutional investors at a price of 74 pence (C$1.25, ISK 127) per new common share. The total new shares represent approximately 19% of the company’s enlarged share capital after the completion of the placement.
Fossar Investment Bank hf. and Landsbankinn hf. acted as joint bookrunners on the placing and Stifel Nicolaus Europe acted as advisor and broker in the UK.
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