Improved debt financing agreement
Amaroq (OTCQX: AMRQF) announced an amendment to its Landsbankinn revolving credit facility, extending the maturity by 14 months to 1 February 2028 and introducing additional margin step-downs tied to last‑twelve‑month EBITDA. The total Facility commitment remains US$35.245 million across three tranches (A: US$18.5m, B: US$10.245m, C: US$6.5m). Current drawn tranches carry a 9.5% margin, reducing under specified EBITDA triggers to as low as 4.5% plus SOFR. The amendment includes a 0.7% fee (US$245,000) capitalised to facility B and the Facility remains secured by mortgages, share pledges, account pledges and a license transfer.
The Nalunaq project beginning to generate revenues is cited as enabling margin improvements and financial flexibility.
Amaroq (OTCQX: AMRQF) annuncia una modifica al revolver della Landsbankinn, estendendo la scadenza di 14 mesi al 1 febbraio 2028 e introducendo ulteriori step-down del margine legati al EBITDA degli ultimi dodici mesi. L'impegno totale della Facility resta US$35.245 milioni distribuito su tre tranche (A: US$18,5m, B: US$10,245m, C: US$6,5m). Le tranche attualmente attingute hanno una marginalità del 9,5%, che si riduce, al verificarsi di determinati trigger EBITDA, fino a un minimo di 4,5% più SOFR. L'emendamento include una commissione dello 0,7% (US$245.000) capitalizzata sulla tranche B e la Facility resta garantita da ipoteche, pledges azionari, pledge su conti e un trasferimento di licenza.
Si cita che il progetto Nalunaq, ora in grado di generare ricavi, consente miglioramenti dei margini e maggiore flessibilità finanziaria.
Amaroq (OTCQX: AMRQF) anunció una enmienda a su facility revolving de Landsbankinn, extendiendo el vencimiento 14 meses hasta 1 de febrero de 2028 e introduciendo escalones de margen adicionales vinculados al EBITDA de los últimos doce meses. El compromiso total de la Facility se mantiene en US$35,245 millones distribuidos en tres tramos (A: US$18,5m, B: US$10,245m, C: US$6,5m). Los tramos actualmente dibujados tienen un margen de 9,5%, que se reduce, tras desencadenantes de EBITDA especificados, hasta un mínimo de 4,5% más SOFR. La enmienda incluye una comisión del 0,7% (US$245,000) capitalizada en la tranche B y la Facility permanece garantizada por hipotecas, pledges de acciones, pledges de cuentas y una transferencia de licencia.
Se cita que el proyecto Nalunaq, al comenzar a generar ingresos, facilita mejoras de margen y flexibilidad financiera.
Amaroq (OTCQX: AMRQF)는 Landsbankinn의 회전신용한도를 수정하여 만기를 2028년 2월 1일로 14개월 연장하고, 최근 12개월 EBITDA에 연계된 추가 마진 단계 감소를 도입했습니다. 총 Facility 약정은 세 tranches로 유지되며 US$35.245백만 (A: US$18.5m, B: US$10.245m, C: US$6.5m)입니다. 현재 인출 중인 tranches의 마진은 9.5%이며, 특정 EBITDA 트리거 시 4.5% + SOFR까지 낮아질 수 있습니다. 수정에는 0.7%의 수수료(US$245,000)가 tranche B에 자본화되며, Facility는 모기지, 주식 담보, 계좌 담보 및 라이선스 양도에 의해 담보됩니다.
Nalunaq 프로젝트가 수익 창출을 시작하면 마진 개선과 재무 융통성이 강화될 것으로 언급됩니다.
Amaroq (OTCQX: AMRQF) a annoncé un amendement à sa facility revolving Landsbankinn, prolongeant l’échéance de 14 mois jusqu’au 1er février 2028 et introduisant des paliers de marge supplémentaires liés à l’EBITDA des douze derniers mois. L’engagement total de la Facility demeure US$35,245 millions réparti en trois tranches (A: US$18,5m, B: US$10,245m, C: US$6,5m). Les tranches actuellement tirées portent une marge de 9,5%, qui peut être réduite, déclencheurs EBITDA spécifiés, jusqu’à un minimum de 4,5% plus SOFR. L’amendement comprend des frais de 0,7% (US$245,000) capitalisés sur la tranche B et la Facility demeure garantie par des hypothèques, pledges d’actions, pledges de comptes et un transfert de licence.
Le projet Nalunaq, qui commence à générer des revenus, est cité comme permettant des améliorations de marge et une flexibilité financière.
Amaroq (OTCQX: AMRQF) gab eine Änderung des revolvierenden Kredits der Landsbankinn bekannt, die Fälligkeit um 14 Monate auf 1. Februar 2028 verlängert und zusätzliche Margin-Stufen eingeführt, die an das EBITDA der letzten zwölf Monate gebunden sind. Die Gesamtklausel der Facility bleibt US$35,245 Millionen über drei Tranchen (A: US$18,5m, B: US$10,245m, C: US$6,5m). Die aktuellen drawdown-Tranchen tragen eine Marge von 9,5%, die bei bestimmten EBITDA-Triggern auf bis zu 4,5% zuzüglich SOFR sinken kann. Die Änderung umfasst eine Gebühr von 0,7% (US$245.000), die auf Tranche B aktiviert wird, und die Facility bleibt durch Hypotheken, Aktienpfandrechte, Kontopfand und eine Lizenzübertragung gesichert.
Es wird erwähnt, dass das Nalunaq-Projekt, das nun Umsätze zu erzielen beginnt, Margin-Verbesserungen und finanzielle Flexibilität ermöglicht.
Amaroq (OTCQX: AMRQF) أعلن عن تعديل في مرفق الائتمان المت revolving الخاص بـ Landsbankinn، مع تمديد الاستحقاق بمقدار 14 شهرًا حتى 1 فبراير 2028 وتقديم درجات هامش إضافية مرتبطة بـ EBITDA للأشهر الاثني عشر الأخيرة. يظل الالتزام الكلي للـ Facility عند US$35.245 مليون عبر ثلاث شرائح (A: US$18.5m، B: US$10.245m، C: US$6.5m). الشرائح الحالية المسحوبة تحمل هامشًا قدره 9.5%، وينخفض حسب محددات EBITDA إلى ما يصل إلى 4.5% بجانب SOFR. يتضمن التعديل رسمًا قدره 0.7% (US$245,000) مُراكَم على الشريحة B وتبقى Facility مضمونة بالرهن العقاري، وتقديم الأسهم، ورهن الحسابات ونقل الترخيص.
يذكر أن مشروع Nalunaq الذي بدأ بتوليد الإيرادات يسهم في تحسين الهوامش وتوفير مزيد من المرونة المالية.
- Total revolving commitment of US$35.245 million
- Facility maturity extended to 1 February 2028
- Margin step-downs to 4.5% if LTM EBITDA > CAD 70 million
- Nalunaq revenues beginning to unlock improved financing margins
- Facilities A and B are fully drawn carrying a 9.5% margin
- Amendment fee of 0.7% (US$245,000) capitalised to facility B
- Facility remains secured by mortgages, share and account pledges
- Facility C availability requires CAD 6 million cumulative three‑month EBITDA
Reykjavík, Nov. 19, 2025 (GLOBE NEWSWIRE) --
Amaroq Ltd.
(“Amaroq” or the “Company”)
Improved debt financing agreement
TORONTO, ONTARIO – 19 November 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, is pleased to announce a fourteen month extension and improved margins of its debt financing package with Landsbankinn hf. (“Landsbankinn”), as announced 30 December 2024.
Ellert Arnarson, Amaroq CFO, commented:
“We are very pleased to have executed an amendment to our debt financing agreement with Landsbankinn, extending the maturity from December 2026 to February 2028 and the potential to improve overall terms to
“The Nalunaq project in South Greenland is well advanced in its commissioning and beginning to generate revenues, which will unlock the improved margins on our financing facility and lower operating costs. We also continue to pursue additional financing opportunities, including with offtakers and credit agencies, to further support the Company’s growth and balance sheet strength.”
Details of the agreement:
The Company has a revolving credit facility with Landsbankinn, for a total commitment of US
- US
$18.5 million facility A and US$10.24 5 million facility B, which are fully drawn, with a margin of9.5% per annum, reducing to7.5% once facility C has become available. - US
$6.5 million facility C with a margin of7.5% per annum, available once the Company’s cumulative EBITDA over the preceding three-month period exceeds CAD 6 million.
The Company and Landsbankinn have reached an amended agreement for the Facility, whereby:
- Facility term is extended by 14 months, from 1 December 2026 to 1 February 2028.
- Additional margin step-downs introduced, based on last twelve months EBITDA:
6.25% if LTM EBITDA exceeds CAD 25 million,5.00% if LTM EBITDA exceeds CAD 50 million,4.50% if LTM EBITDA exceeds CAD 70 million.
The amendment carries a
Enquiries:
Amaroq Ltd.
Ellert Arnarson, CFO
ea@amaroqminerals.com
Ed Westropp, Head of BD and Corporate Affairs
+44 (0)7385 755711
ewe@amaroqminerals.com
Eddie Wyvill, Corporate Development
+44 (0)7713 126727
ew@amaroqminerals.com
Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Freddie Wooding
+44 (0) 20 7886 2500
Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
+44 (0) 20 7523 8000
Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980
Further Information:
About Amaroq
Amaroq’s 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
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.
FAQ
What change did Amaroq announce to its debt financing on November 19, 2025?
How large is Amaroq's Landsbankinn facility (AMRQF) after the amendment?
What margin reductions are possible under Amaroq's amended loan (AMRQF)?
When does facility C become available and what triggers it for AMRQF?
What cost did Amaroq incur to amend the financing agreement?
Are Amaroq's assets pledged under the amended financing (AMRQF)?
