Macarthur Minerals Completes Share Consolidation
November 22 2019 - 8:00AM
Macarthur Minerals Limited (TSX-V: MMS) (OTCQB:
MMSDF) (the “Company” or “Macarthur”) is pleased to
announce that it has completed the consolidation of its share
capital on the basis of one (1) post-consolidation common share for
four (4) pre-consolidation common share (the “Consolidation Ratio”)
following approval of the consolidation by the TSX-V. The
common shares of the Company commenced consolidated trading on
TSX-V on 20 November 2019 (EST) at a price of C$0.24.
Prior to implementing the consolidation, the
Company had 322,033,625 common shares issued and outstanding, and
immediately after implementing the consolidation, the Company had
80,508,406 common shares. No fractional shares were issued under
the consolidation as fractional shares were rounded to the nearest
whole number. The exercise price and the number of shares issuable
under any of the Company's outstanding stock options, warrants,
restricted share units and convertible notes, as applicable, have
been proportionately adjusted in connection with the
consolidation.
Letters of transmittal have been mailed to all
registered shareholders by the Company's transfer agent,
Computershare Investor Services Inc. with instructions on how to
exchange their existing share certificate for a new share
certificate or Direct Registration (DRS) Statement. No action is
required from shareholders who hold their shares in a broker or
depository’s name.
The Company’s new CUSIP number is Q56767157 and
its new ISIN number is AU0000065070.
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 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.
Company ContactJoe Phillips,
CEO and DirectorEmail:
jphillips@macarthurminerals.com
Telephone: +61 448899247Website:
www.macarthurminerals.com
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”Cameron McCall, Executive
Chairman
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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