Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) told investors it continues to finalize the terms and conditions of its previously announced debt financing, which is expected to close by the end of August.
It consists of an increased US$50.9 million senior secured package, including US$18.5 in senior debt term loans per revolving credit facilities from Landsbankinn hf. and Fossar Investment Bank, US$22.4 million in convertible notes with ECAM LP, JLE Property Ltd. and Livermore Partners LLC; and an overrun loan from JLE Property Ltd. of up to US$10 million under a revolving credit facility.