Awards under Restricted Share Unit Plan and Notification of Major Holdings

Reykjavík, Dec. 19, 2024 (GLOBE NEWSWIRE) -- (“Amaroq” or the “Company”)

Awards under Restricted Share Unit Plan (the “RSU Plan”)
and Notification of Major Holdings

TORONTO, ONTARIO – 19 December 2024 – Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), an independent mining company with a substantial land package of gold and strategic mineral assets in Southern Greenland, announces that in alignment with the Company’s RSU Plan, the Company granted an award (the “Award”) to employees of the Company.

The RSU plan, communicated to the market following the Company’s Admission to AIM in 2020, was developed with input from PwC. The RSU plan was initially approved by the Company's shareholders at the AGM held on 16 June 2022 and further amended and approved by the AGM resolution on 15 June 2023 and 14 June 2024.

Full details of the RSU Plan are available on the Company’s website at https://www.amaroqminerals.com/about/corporate-governance/.

The details of the Award are as follows:

Grant Date 19 December 2024
Total Number of RSUs 953,449
Vesting Schedule 100% of the RSUs will vest on the first anniversary of grant

  

Notification of Major Holdings

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Amaroq Minerals Ltd.
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments  
An event changing the breakdown of voting rights  
Other (please specify):  
3. Details of person subject to the notification obligation
Name Kvika banki hf.
City and country of registered office (if applicable) Reykjavík, Iceland
4. Full name of shareholder(s) (if different from 3.)
Name  
City and country of registered office (if applicable)  
5. Date on which the threshold was crossed or reached: 11 December 2024
6. Date on which issuer notified (DD/MM/YYYY): 17 December 2024
7. Total positions of person(s) subject to the notification obligation
  % of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)		 Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B)
Resulting situation on the date on which threshold was crossed or reached 5.09%   5.09% 20,229,146
Position of previous notification (if applicable) 3,55%   3,55% 12,995,054

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
A: Voting rights attached to shares
Class/type of
shares
ISIN code (if possible)

 Number of voting rights % of voting rights
Direct
(DTR5.1)		 Indirect
(DTR5.2.1)		 Direct
(DTR5.1)		 Indirect
(DTR5.2.1)
CA02312A1066 20,229,146   5,09%  
SUBTOTAL 8. A 20,229,146 5,09%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration
date		 Exercise/
Conversion Period		 Number of voting rights that may be acquired if the instrument is exercised/converted. % of voting rights
         
    SUBTOTAL 8. B 1    
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument Expiration
date		 Exercise/
Conversion Period		 Physical or cash
Settlement		 Number of voting rights % of voting rights
           
      SUBTOTAL 8.B.2    
9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer  
Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)		 X
Name % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold
Kvika banki hf.     1,67% (6,660,451)
Kvika Asset Management.     2,40% (9,563,129)
TM TM tryggingar hf.     1,01% (4,005,566)
10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights held  
The date until which the voting rights will be held  
11. Additional information
 


Place of completion Reykjavík, Iceland
Date of completion 19 December 2024

Enquiries:

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

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

Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Nikhil Varghese
Kieron Hodgson
Josh Moss
+44 (0) 20 7886 2500

Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
George Grainger
+44 (0) 20 7523 8000

Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980

For Corporation updates:
Follow @Amaroq_Minerals on X (Formerly known as 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 South Greenland. The Company's principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) 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.


Amaroq Minerals (LSE:AMRQ)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Amaroq Minerals Charts.
Amaroq Minerals (LSE:AMRQ)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Amaroq Minerals Charts.