Macarthur intends to trade on the OTCQB again
May 11 2020 - 8:00AM
Macarthur Minerals Limited (TSX-V:
MMS) (ASX:
MIO) (the “Company” or “Macarthur”)
announces that the Company intends to file an application with OTC
Market Group within the next two weeks to begin trading on the
OTCQB. The application to reinstate trading on the OTCQB is subject
to review and approval by OTC Markets Group.
As part of the process, Macarthur’s Board of
Directors has approved the appointment of Northland Capital
Markets, a full-service investment bank headquartered in the U.S.,
to act as OTCQB Sponsor and Advisor to the Company.
By reinstating trading on the OTCQB, Macarthur
can engage a far greater network of U.S. investors, data
distributors and media partners, while ensuring U.S. investors have
access to the same high-quality information that is available to
investors in Australia and Canada, but through U.S. platforms and
portals used to conduct investment research.
The Company will also continue to maintain its
listings on the Australian Securities Exchange (“ASX”) and TSX
Venture Exchange (“TSX-V”).
Cameron McCall, President and Executive
Chairman of Macarthur Minerals commented:
“I am confident that Macarthur meets all of the
reporting and management requirements to have its shares trading on
the OTCQB market once again. Quotation on the OTCQB should boost
confidence in our overall business strategy by allowing greater
access of the Company’s stock to U.S. shareholders and it
demonstrates our desire to build long-term shareholder value. We
look forward to reaching a much larger audience of potential
individual and institutional investors once the process is
completed”.
On behalf of the Board of Directors, Mr Cameron McCall,
Executive Chairman
For more information please contact:
Joe PhillipsCEO & DirectorM +61 (0)448 899
247jphillips@macarthurminerals.com
About Northland Capital
Markets
Northland Capital Markets is the trade name for
certain capital markets and investment banking services of
Northland Securities, Inc., Member FINRA/SIPC. Northland Securities
is registered with SEC and MSRB, and is a diversified financial
services firm, including investment banking and full-service
broker-dealer divisions, offering investment and finance services
for government entities, financial institutions, non-profit
organizations, and individual investors. Headquartered in
Minneapolis, Northland Securities has branch offices in Iowa,
California, Colorado, Missouri, New York, and Wisconsin.
Company profile
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 mineral resources include the Ularring hematite
resource (approved for development) comprising Indicated resources
of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26
million tonnes at 45.4% Fe; and the Moonshine magnetite resource of
710 million tonnes (Inferred). Macarthur has prominent (~1,281
square kilometer tenement area) gold, lithium and copper
exploration interests in Pilbara region of Western Australia. In
addition, Macarthur has lithium brine Claims in the emerging
Railroad Valley region in Nevada, USA.
This news release is not for
distribution to united states services or for dissemination in the
United States
Caution Regarding Forward Looking
Statements
Certain 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. All statements herein, other than statements
of historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future, including but limited to statements regarding: the
proposed strategy regarding core mining, road and rail inputs at
the Project; anticipated increases in annual production at the
Project; anticipated decreases in Project costs; the possible
reclassification of current inferred mineral resources on the
Project as indicated mineral resources in the future; expected
completion of the FS on the Project containing a new reserve
calculation and a new economic assessment; the granting of a
license for the Menzies rail siding; the status of the MRRT; and
plans to secure mining approvals under the Mining Act, are
forward-looking statements. 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 reliability of information
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 but are not limited to: unforeseen
technology changes that results in a reduction in iron or magnetite
demand or substitution by other metals or materials; the discovery
of new large low cost deposits of iron magnetite; the general level
of global economic activity; future changes in strategy regarding
core mining, road and rail inputs with respect to the Project;
final Project costs varying from those determined from the EOI
program; failure to successfully negotiate a BOO arrangement for
the Project; failure to complete the FS; failure of the FS to
reflect currently anticipated increases annual production and
decreases in expected costs at the Project; the results of infill
drilling being insufficient to reclassify current inferred mineral
resources on the Project as indicated mineral resources; failure to
receive a license for the Menzies rail siding; failure to repeal
the MRRT; and failure to obtain mining approvals under the Mining
Act. 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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