Amaroq Minerals Ltd.

Major Shareholding Notification • Nov 4, 2022

National Storage Mechanism | Additional information

RNS Number : 4388F

Amaroq Minerals Ltd

04 November 2022

("Amaroq" or the "Company")

Notification of Holdings

TORONTO, ONTARIO - November 4, 2022 - Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ First North: AMRQ - formerly AEX Gold Inc.), an independent mine development company with a substantial land package of gold and strategic mineral assets covering an area of 7,866.85 km2 in Southern Greenland, has received the following three TR-1 notifications as a result of its recent fundraising:

I.        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			JLE Property Ltd
City and country of registered office (if applicable)			Lichfield, England
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:			3 November 2022
6. Date on which issuer notified (DD/MM/YYYY):			4 November 2022
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	7.4%	-	7.4%		19,407,936
Position of previous notification (if applicable)	2.9%	-	2.9%

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	19,407,936					7.4%
SUBTOTAL 8. A	19,407,936					7.4%
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)
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
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information

Place of completion	Lichfield, England
Date of completion	4 November 2022

II.       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
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights				X
Other (please specify):
3. Details of person subject to the notification obligation
Name			Clarendon Trust - Sub Fund B
City and country of registered office (if applicable)			St Helier, Jersey
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:			3 November 2022
6. Date on which issuer notified (DD/MM/YYYY):			4 November 2022
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	2.5468%	-	2.5468%	6,700,000
Position of previous notification (if applicable)	3.78%	-	3.78%

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	6,700,000			-		2.5468%		-
SUBTOTAL 8. A	6,700,000					2.5468%
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				X
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)
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
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information
Unchanged holding following increase in total share count

Place of completion	United Kingdom
Date of completion	4 November 2022

III.      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
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights				X
Other (please specify):
3. Details of person subject to the notification obligation
Name			Amati Global Investors Limited
City and country of registered office (if applicable)			Edinburgh, United Kingdom
4. Full name of shareholder(s) (if different from 3.)
Name			TB Amati Investment Funds
City and country of registered office (if applicable)			Nottingham, United Kingdom
5. Date on which the threshold was crossed or reached:			3 November 2022
6. Date on which issuer notified (DD/MM/YYYY):			4 November 2022
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	3.38%	-	3.38%		8,902,710
Position of previous notification (if applicable)	6.9%	-	6.9%

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	8,902,710					3.38%
SUBTOTAL 8. A	8,902,710					3.38%
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				X
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)
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
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information

Place of completion	Edinburgh, UK
Date of completion	4 November 2022

Enquiries:

Amaroq Minerals Ltd.        

Eldur Olafsson, Executive Director and CEO

+354 665 2003

eo@amaroqminerals.com

Eddie Wyvill, Investor Relations

+44 (0)7713 126727

ew@amaroqminerals.com

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart

Simon Mensley

Ashton Clanfield

+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John Prior

Hugh Rich

Dougie Mcleod

+44 (0) 20 7886 2500

SI Capital Limited (Joint Broker)

Nick Emerson

Charlie Stephenson

+44 (0) 1483 413500

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Charlie Dingwall

+44 (0) 20 3757 4980

For Company updates:

Follow @Amaroq_minerals on Twitter

Follow Amaroq Minerals Inc. 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 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 covering 7,866.85km2, the largest mineral portfolio 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.

Inside Information

This announcement does not contain inside information.

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