REYKJAVÍK - Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), a mining company with operations in Southern Greenland, has entered into a market-making agreement with Arion Bank hf. to enhance the liquidity of its Icelandic depositary receipts on Nasdaq Iceland's Main Market. The arrangement, effective today, requires Arion Bank to provide buy and sell quotes on a daily basis.
The agreement stipulates that each bid and ask must cover at least 50,000 depository receipts at nominal value, with a bid-ask spread maintained as close as possible to 1.50%, but not falling below 1.45%. This market-making service is designed to facilitate smoother trading of Amaroq's securities and is in line with the Nordic Main Market Rulebook for Issuers of Shares.
Arion Bank, a fully licensed banking institution under Icelandic law, will not receive shares or options as part of the compensation for their services, ensuring a focus on market stability rather than performance incentives.
This new partnership with Arion Bank complements the existing market-making agreement with Fossar Investment Bank hf., which has been in place since October 5, 2023, and remains effective for Amaroq's depositary receipts.
Amaroq has emphasized that Arion Bank's market-making activities are exclusively related to the company's depositary receipts listed on Nasdaq Iceland. The open-ended agreement marks a step by Amaroq to increase the accessibility and attractiveness of its securities to investors. This move is based on a press release statement issued by Amaroq Minerals Ltd.
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