Amaroq Minerals Ltd. has provided an update on its debt financing, which was announced on March 28, 2023. The company is finalizing the terms and conditions of the debt financing and expects to close the transaction by the end of August 2023. The financing consists of an increased US$50.9 million senior secured package, including senior debt term loans, convertible notes, and an overrun loan. The financing is subject to the completion of final documentation, agreement by all parties, and approval from the TSX Venture Exchange.
This news release is for information purposes only and does not constitute an offer to sell or issue securities. The securities have not been registered under the U.S. Securities Act and may not be offered or sold within the United States. 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 the Nalunaq Project, an advanced exploration stage property with an exploitation license. Amaroq Minerals is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.