Amaroq Minerals Ltd., a mining company engaged in the identification, acquisition, exploration and development of strategic mineral assets in South Greenland, yesterday concluded a successful placement in the amount of ISK 7.6 billion.
The total value of the stock offer, which was increased due to more than twofold over-subscription, will fund further research to accelerate planned gold mining in the company’s Nalunaq mine in South Greenland, further exploration of the company’s assets in Vagar and Nanoq, as well as other projects linked to Gardaq.
A total of 62,724,758 new shares will be delivered to current and new shareholders at the rate of ISK 127 per share, the equivalent of around 19% of issued share capital following the increase.
Landsbankinn hf. and Fossar fjárfestingarbanki hf. acted as co-advisors to Amaroq in the stock offering and Stifel Nicolaus Europe Limited was sales manager in the UK. Landsbankinn co-ordinates listing of the new shares.
Landsbankinn congratulates Amaroq on the successful offering and collaboration.
