Macarthur Minerals ASX Listing Completed
December 10 2019 - 12:40PM
Macarthur Minerals Limited (TSX-V: MMS) (ASX: MIO)
(the “Company” or “Macarthur”) is pleased to announce that it was
admitted to the Official List of Australian Securities Exchange
(
ASX) on December 4, 2019 and commenced quotation
of its securities on ASX on December 6, 2019.
The Company successfully closed the Offer under
its Replacement Prospectus on 28 November 2019 with subscriptions
accepted for 20,032,952 shares at a price of A$0.25 per share for a
total consideration of A$5,008,238. Funds from the ASX IPO will be
primarily used to advance the Company’s flagship Lake Giles Iron
Project.
Pursuant to the Company’s Share Compensation
Plans, the Company has also granted a total of 1,800,000 bonus
shares “Bonus Shares”) to directors, employees and consultants of
the Company, with a deemed price on grant of A$0.25 per share. The
issue of the Bonus Shares, following grant, may be subject to
shareholder approval, if required.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V:
MMS, ASX: MIO)
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 resources1 include the Ularring hematite resource
(approved for development) with a resource consisting of 54.5
million tonnes at 47.2% Fe (Indicated Category) and 26 million
tonnes at 45.4% Fe (Inferred Category) and the Moonshine magnetite
resource of 710 million tonnes at 30.6% Fe (Inferred Category).
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.comTelephone: +61
448899247
Website: www.macarthurminerals.com
1 INDEPENDENT TECHNICAL ASSESSMENT REPORT, Macarthur Minerals
Projects in Western Australia and Nevada, CSA Global Report Nº
R358.2019’9 October 2019, www.csaglobal.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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