Amaroq Minerals revises market making terms with Arion Bank

REYKJAVÍK - Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland:AMRQ), a gold and strategic minerals mining company in Southern Greenland, has amended its market making agreement with Arion Bank hf. The updated arrangement, which came into effect today, modifies the structure of daily bid and ask quotes for the company’s Depository Receipts.

Under the new terms, Arion Bank will submit quotes for a minimum of 50,000 Depository Receipts, divided into two parts. For 45,000 Depository Receipts, known as Part A, the bid-ask spread will align with the tick size table to maintain a spread close to 1.50%, with a minimum of 1.45%. For the remaining 5,000 Depository Receipts, Part B, the spread will not exceed 1.50%.

The amendment allows Arion Bank to offer narrower spreads than the set minimum if tick size table conditions permit. Additionally, in response to significant intraday price volatility, the bank may increase the spread up to double or triple the standard, corresponding to price changes of 5% or 10% respectively.

Arion Bank is only required to provide new quotes after the full acceptance or cancellation of both Part A and Part B quotes. All other conditions of the original agreement, dated January 24, 2025, remain unchanged.

In related news, Amaroq Minerals has ended its market making contract with Fossar fjárfestingabanki hf., effective May 7, 2025. The termination of this agreement follows the revised terms with Arion Bank.

This update on Amaroq Minerals’ market making activities is based on a press release statement. The company has not provided additional comments on the reason for the amendment or its expected impact on trading liquidity.

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