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An update from AEX Gold ( (TSE:AMRQ) ) is now available.
Amaroq Ltd. has completed the acquisitions of Black Angel Mining A/S and the Kangerluarsuk licences, consolidating them into a new West Greenland Hub, and has paid for these assets through the issuance of more than 8 million new shares to the vendors. The Black Angel deal, classified as a related-party transaction because the vendor’s parent company is controlled by certain Amaroq directors, proceeded under exemptions from formal valuation and minority approval requirements, and the new shares are being admitted to trading in London and Iceland, with TSX Venture Exchange approval still pending. Including additional shares issued under the company’s incentive plans, Amaroq’s share capital now stands at 463,648,822 common shares, and the directors involved have increased their indirect beneficial stakes, developments that modestly dilute existing shareholders while broadening Amaroq’s asset base and potentially strengthening its strategic position in Greenland’s mining sector.
More about AEX Gold
Amaroq Ltd. is an independent mine development company focused on unlocking Greenland’s mineral potential, with core activities in the identification, acquisition, exploration and development of gold and strategic metal properties in South Greenland. Its principal asset is the 100%-owned Nalunaq Gold Mine, supported by a broader portfolio of gold and strategic metal projects across the region’s two known gold belts and advanced exploration targets such as Stendalen and the Sava Copper Belt for copper, nickel, rare earths and other minerals.
For an in-depth examination of AMRQ stock, go to TipRanks’ Overview page.