Macarthur Builds on Its Commercial Leadership With the Appointment of Executive General Manager
September 03 2019 - 8:00AM
Macarthur Minerals Limited (TSX-V:
MMS) (the “Company” or “Macarthur Minerals”) is pleased to
announce the appointment of Andrew Bruton as the Executive General
Manager, Corporate and new Company Secretary of Macarthur Minerals.
Mr Bruton has a long and respected career of
over 20 years of top tier professional experience in corporate,
mining, energy and infrastructure law. He has been recognised
as a leading transactional and project lawyer in the mining and
energy sectors in Australia.
In senior leadership roles, Andrew has been
responsible for large teams at both State and National
levels. He is also an experienced company director.
Having advised major Australian and
international mining and energy companies on complex projects, and
being a strategic thinker and leader with strong business acumen
and a focus on delivering outcomes, he brings a wealth of expertise
to Macarthur Minerals.
Andrew holds both a Bachelor of Laws and a
Bachelor of Business (Accountancy) from the Queensland University
of Technology.
Macarthur Minerals’ Executive Chairman, Cameron
McCall commented that, “Andrew’s appointment into this role is at a
very important juncture of the Company in the transition from
explorer to developer of the Lake Giles Iron Ore Project. As
the Company progresses towards the completion of the Bankable
Feasibility Study, port, rail, financing, mining, construction,
energy supply and numerous other commercial contracts will require
negotiation and execution. Andrew’s wealth of experience will
be invaluable in this next phase as the Company transitions to
production.
“During the first half of 2019, Andrew worked
through the development and execution of the Convertible Note
documentations for the Company and in this process clearly
demonstrated his commercial value to the Company. I whole
heartedly welcome him to the Macarthur Team.”
GRANT SHARE BASED
COMPENSATION
Pursuant to the Company’s Share Compensation
Plans (“Plans”), the Board of Directors of the Company has granted
an aggregate of 14,000,000 restricted share units (“RSUs”) to
acquire common shares of the Company pursuant to the Plans, to
Directors, various Employees and Consultants of the Company. The
RSUs vest in the event that the closing share price of the
Company’s shares on the TSX Venture Exchange is greater than C$0.08
for 20 consecutive trading days.
The RSUs are being issued under the terms of the
Company’s Share Compensation Plans which were approved by
shareholders at the Company’s Annual General Meeting on 30 August
2019.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V:
MMS, OTCQB: MMSDF)
Macarthur is an iron ore development, gold and
lithium exploration company that is focused on bringing to
production its Western Australia iron ore projects. The Lake Giles
Iron Ore Project includes the 80 million tonne Ularring hematite
resource (approved for development) and the 710 million tonne
Moonshine magnetite resource. Macarthur has prominent (~1,281
square kilometer tenement area) gold, lithium and nickel
exploration interests in Pilbara region of Western Australia. In
addition, Macarthur has lithium brine Claims in the emerging
Railroad Valley region in Nevada, USA.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”Cameron McCall, Executive
Chairman
Company ContactJoe Phillips,
CEO and DirectorEmail:
jphillips@macarthurminerals.com
Telephone: +61 448899247
Website:
www.macarthurminerals.com
THIS NEWS RELEASE IS NOT FOR
DISTRIBUTION TO UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Caution Regarding Forward Looking
StatementsCertain of the statements made and information
contained in this press release may constitute forward-looking
information and forward-looking statements (collectively,
“forward-looking statements”) within the meaning of applicable
securities laws. The forward-looking statements in this press
release reflect the current expectations, assumptions or beliefs of
the Company based upon information currently available to the
Company. With respect to forward-looking statements contained in
this press release, assumptions have been made regarding, among
other things, the timely receipt of required approvals, the
reliability of information, including historical mineral resource
or mineral reserve estimates, prepared and/or published by third
parties that are referenced in this press release or was otherwise
relied upon by the Company in preparing this press release.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and no
assurance can be given that these expectations will prove to be
correct as actual results or developments may differ materially
from those projected in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include fluctuations in exchange rates
and certain commodity prices, uncertainties related to mineral
title in the project, unforeseen technology changes that results in
a reduction in iron ore demand or substitution by other metals or
materials, the discovery of new large low cost deposits of iron
ore, uncertainty in successfully returning the project into full
operation, and the general level of global economic activity.
Readers are cautioned not to place undue reliance on
forward-looking statements due to the inherent uncertainty thereof.
Such statements relate to future events and expectations and, as
such, involve known and unknown risks and uncertainties. The
forward-looking statements contained in this press release are made
as of the date of this press release and except as may otherwise be
required pursuant to applicable laws, the Company does not assume
any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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