Total Voting Rights and Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)

Rhea-AI Summary

Amaroq Ltd (NASDAQ Iceland: AMRQ, OTCQX: AMRQF) reports updated total voting rights and a PDMR transaction.

Following issuance of 864,806 additional common shares under share-based incentive plans, the company’s total issued share capital is 454,971,459 common shares as at 02 December 2025. The company holds no treasury shares.

Chief Executive Officer Eldur Olafsson exercised options set to expire 31 December 2025, converting 626,616 options into common shares at CAD$0.38 per share on 01/12/2025 (transaction venue: XOFF).

News Market Reaction

-0.76%

1 alert

-0.76% News Effect

On the day this news was published, AMRQF declined 0.76%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

New shares issued: 864,806 shares Total share capital: 454,971,459 shares Option exercise volume: 626,616 shares +5 more

8 metrics

New shares issued 864,806 shares Issued under share-based incentive plans as at 02 Dec 2025

Total share capital 454,971,459 shares Total issued common shares with voting rights on 02 Dec 2025

Option exercise volume 626,616 shares CEO option exercise on 01/12/2025

Option exercise price CAD$0.38 Exercise price per share for CEO options

Option expiry date 31 December 2025 Expiry date of exercised options

Current share price $1.248 Price prior to this announcement

52-week high $8.51 Pre-announcement 52-week high

52-week low $0.71 Pre-announcement 52-week low

Market Reality Check

Price: $1.79 Vol: Volume 39,401 is 1.75x th...

high vol

$1.79 Last Close

Volume Volume 39,401 is 1.75x the 20-day average of 22,520, indicating elevated trading activity pre-announcement. high

Technical Shares trade above the 200-day MA, with price at 1.248 versus 200-day MA of 1.17.

Peers on Argus

Gold peers showed mixed moves: several, including OMGGF and MAKOF, had gains of ...

Gold peers showed mixed moves: several, including OMGGF and MAKOF, had gains of up to 2.94%, while NRGOF declined 66.15%, pointing to stock-specific rather than sector-driven dynamics for AMRQF.

Historical Context

5 past events · Latest: Dec 10 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 10	Drilling results	Positive	+1.5%	Nanoq 2025 drill results confirmed significant shallow gold-copper mineralisation.
Dec 04	Voting rights & PDMR	Neutral	+0.8%	Update to total voting rights and option exercises by two PDMRs.
Dec 04	Drilling results	Positive	+0.8%	Nalunaq 2025 drilling derisked near-term production and extended Main Vein.
Dec 02	Voting rights & PDMR	Neutral	-0.8%	Share issuance under incentive plans and CEO option exercise disclosure.
Nov 24	Holding change	Positive	+0.5%	Major holder Kvika banki hf. increased its voting interest to 3.14%.

Pattern Detected

Recent news, including drilling updates, holdings changes, and voting rights/PDMR notices, has typically coincided with modest single-digit percentage price moves broadly aligned with the underlying news tone.

Recent Company History

Over the last few weeks, Amaroq released multiple drilling updates and corporate register notices. On Nov 24, an increased holding to 3.14% produced a modest positive move. Subsequent Nalunaq and Nanoq drilling results in early Dec 2025 also saw small gains. Total voting rights and PDMR notifications on Dec 2 and Dec 4 led to minor price changes, suggesting the market typically treats these corporate actions as low-impact events.

Market Pulse Summary

This announcement updates total voting rights after issuing 864,806 shares under incentive plans, br...

Analysis

This announcement updates total voting rights after issuing 864,806 shares under incentive plans, bringing share capital to 454,971,459 voting shares and confirming no treasury stock. It also discloses the CEO’s exercise of 626,616 options at CAD$0.38 ahead of a 31 December 2025 expiry. Investors may track future changes in share count and PDMR dealings alongside operational news, given the stock’s distance from its $8.51 52-week high.

Key Terms

persons discharging managerial responsibilities, pdmr, lei, isin, +1 more

5 terms

persons discharging managerial responsibilities regulatory

"Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)"

Persons Discharging Managerial Responsibilities are the key people in a company who make big decisions, like top managers or executives. Knowing who they are is important because their actions can influence the company’s success or failure, and they are often required to share information about their dealings to ensure transparency for investors and the public.

pdmr regulatory

"Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)"

A PDMR (person discharging managerial responsibilities) is an individual who can shape a company’s strategy or finances—typically senior executives, board members, or close advisors with decision-making authority. Investors care because PDMRs often hold material, non‑public information and their buying or selling of shares must be reported; monitoring those disclosures is like watching a ship’s captain to read the likely course and spot possible insider risk.

lei financial

"b) | LEI | 213800Q21S5JQ6WKCE70"

A Legal Entity Identifier (LEI) is a unique 20-character code assigned to a company or organization that participates in financial markets, like a corporate passport number. It helps investors and regulators unambiguously identify counterparties across databases and transactions, reducing confusion much like using a vehicle identification number to track a car’s history; clearer identification improves transparency, risk monitoring, and regulatory reporting.

isin financial

"Identification code | ISIN: CA02311U1030"

A 12-character International Securities Identification Number (ISIN) is a unique code that acts like a passport for a specific stock, bond or other tradable security so it can be identified worldwide. Investors and systems use it to ensure they are buying, selling and tracking the exact same instrument across exchanges and data feeds, which prevents costly mix-ups and makes portfolio reporting, settlement and regulatory checks simpler and more reliable.

options financial

"Nature of the transaction | Exercise of options set to expire 31 December 2025"

Options are contracts that give investors the right to buy or sell an asset at a specific price within a certain time frame. They function like a reservation or a ticket that allows for potential profit or protection against price changes, making them useful tools for managing investment risks or speculating on market movements.

AI-generated analysis. Not financial advice.

Reykjavík, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.
(“Amaroq” or the “Company”)

Total Voting Rights and Notification of Transactions of a Persons Discharging Managerial Responsibilities (PDMR)

TORONTO, ONTARIO – 02 December 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, announces that, following the issue of 864,806 additional common shares under the Company’s share-based incentive plans, as at 02 December 2025 the Company’s share capital consists of 454,971,459 common shares of no par value each, and each with voting rights.

Given the Company does not hold any common shares in Treasury, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Eldur Olafsson
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Amaroq Ltd.
b)	LEI	213800Q21S5JQ6WKCE70
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Common shares of no par value in Amaroq Ltd.
	Identification code	ISIN: CA02311U1030
b)	Nature of the transaction	Exercise of options set to expire 31 December 2025
c)	Price(s) and volume(s)	Price(s) Volume(s) CAD$0.38                                    626,616
d)	Aggregated information:    ·Aggregated volume     ·Price	626,616     CAD$0.38
e)	Date of the transaction	01/12/2025
f)	Place of the transaction	XOFF

Enquiries:

Amaroq Ltd.
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 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 is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland 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.

FAQ

How many total Amaroq shares were outstanding after the 02 December 2025 issuance (AMRQF)?

Total issued share capital was 454,971,459 common shares as at 02 December 2025.

How many shares were issued under Amaroq's share-based incentive plans on 02 December 2025 (AMRQF)?

864,806 additional common shares were issued under the company's share-based incentive plans.

What PDMR transaction did Amaroq disclose on 01 December 2025 involving CEO Eldur Olafsson (AMRQF)?

CEO Eldur Olafsson exercised 626,616 options at CAD$0.38 per share on 01/12/2025; the options expire 31 December 2025.

Does Amaroq hold any treasury shares to adjust the voting rights denominator (AMRQF)?

No, the company reported it does not hold any common shares in treasury.

What is the ISIN for Amaroq common shares referenced in the 02 December 2025 notice (AMRQF)?

The ISIN for the common shares is CA02311U1030.

Where was the CEO option exercise for Amaroq reported as having occurred (AMRQF)?

The transaction was reported as taking place off-market at venue XOFF.