AMRQ Amaroq Minerals Ltd

Annual Report and Notice of Meeting

TORONTO, ONTARIO – May 17, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, announces that it has posted its Annual Report and Financial Statements for the year ended December 31, 2023 and Notice of Annual and Special General Meeting of Shareholders (“Meeting”) and Management Information Circular to shareholders.

Copies of the documents are published on the Company's website at https://www.amaroqminerals.com/investors/annual-general-meeting-2024/ and the documents will also be available on SEDAR+ at www.sedarplus.ca.

The Meeting will be held remotely on Friday, June 14, 2024, at 10:00 a.m. (Toronto time). Registered shareholders and duly appointed proxyholders will be able to participate, vote and submit questions at the virtual meeting. Instructions on how to join the virtual meeting are set out in the Notice of Meeting.

Among the resolutions, shareholders will be asked to consider the Company’s continuation from a corporation organized under the Canada Business Corporations Act (the “CBCA”) to a corporation organized under the Business Corporations Act (Ontario) (the “OBCA”) and to authorize the Board of directors of the Company to set the number of directors.

The proposed resolution is driven Amaroq’s need to attract and appoint directors with a broad range of skills and experience relevant to its business. Under the CBCA, at least 25% of the directors of the Company must be resident Canadians. The OBCA does not impose a director residency requirement. In order to provide the Company with greater flexibility to attract and nominate the most suitable candidates for directors from a global talent pool, the Board believes that it is in the Company’s best interest to continue into Ontario.The transition is subject to certain regulatory approvals.

Seven of the eight persons nominated by the Board for election as directors are currently Directors of the Company. Sander A.J.R. Grieve, a Bennett Jones LLP partner, is nominated for election to the Board to fulfil the director residency requirement, applicable as of the date of the AGM. His appointment is conditional on due diligence carried out by the Company’s Nominated Advisor Stifel Nicolaus Europe Limited. In accordance with prior agreement, Sander A.J.R. Grieve will step down once the proposed continuance from the Canada Business Corporations Act to the Business Corporations Act (Ontario) is finalized.

In addition to the above, shareholders will be voting:

• to receive and consider the financial statements of the Corporation for the financial year ended December 31, 2023 together with the report of the auditors thereon;
• re-appoint BDO Canada LLP as the auditor of the Corporation for the ensuing year
• to consider the amended Company’s stock option plan and restricted share unit plan.

Enquiries:

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

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

Stifel Nicolaus Europe Limited (Nominated Adviser and Joint Broker)Callum StewartVarun TalwarSimon MensleyAshton Clanfield+44 (0) 20 7710 7600 

Panmure Gordon (UK) Limited (Joint Broker)Hugh RichDougie Mcleod+44 (0) 20 7886 2500

Camarco (Financial PR)Billy CleggElfie KentCharlie Dingwall+44 (0) 20 3757 4980 

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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 Company'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 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.

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.

Attachment

• AMRQ - Notice of AGM

Amaroq Minerals (TSXV:AMRQ)
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