Macarthur to re-list on OTCQB imminently
August 07 2020 - 8:00AM
Macarthur Minerals Limited (TSX-V:
MMS) (ASX:
MIO) (the “Company” or “Macarthur”)
announces that Northland Securities, Inc. (“Northland”) who act as
the OTCQB Sponsor and Advisor to the Company confirmed Financial
Industry Regulatory Authority (“FINRA”) Form 211 which was
submitted pursuant to FINRA Rule 6432 and Rule 15c2-11 under the
Securities Exchange Act of 1934 ("SEA") in connection with its
application to reinstate trading on the OTCQB, has been considered
by FINRA. This is the final regulatory hurdle that needs to be
cleared to enable Northland to initiate a price quotation on OTCQB
under the ticker code “MMSDF”.
Macarthur will provide a further announcement to
the market confirming the date for commencement of trading on
OTCQB.
Cameron McCall, President and Executive
Chairman of Macarthur Minerals commented:
“This has been an important quarter for the
Company with many major milestones achieved. I would like to thank
the Board, Management and employees for their valuable
contributions to the material progress that has been made for the
Company and its shareholders during the course of the year.
Macarthur’s many successes in 2020 have been
amplified by the fact they have been achieved in the midst of the
global COVID-19 pandemic. With our focus now on the many more
successes which need to follow, we are more committed than ever to
the successful delivery of the Lake Giles Iron Project.”
Pursuant to the Company’s Share Compensation
Plans, the Company has also granted a total of 3,000,000 bonus
shares (“Bonus Shares”) to directors, employees and consultants of
the Company, with a deemed price on grant of A$0.27 per share. The
issue of the Bonus Shares, following grant, shall be subject to 6
months voluntary escrow from the date of issue and may be subject
to shareholder approval, if required.
On behalf of the Board of Directors, Mr Cameron McCall,
Executive Chairman
Joe PhillipsCEO & Director+61 7 3221
1796communications@macarthurminerals.com |
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Investor Relations –
AustraliaAdvisirSarah Lenard,
Partnersarah.lenard@advisir.com.au |
Investor Relations -
CanadaInvestor CubedNeil Simon, CEO+1 647 258
3310info@investor3.ca |
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 (~721 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 not limited to statements regarding
expected completion of the Feasibility Study; granting of mineral
tenure to facilitate infrastructure proposed; the ability to enter
into a commercial rail access agreement or the eventual mining of
the Project, 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. 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 rail network capacity and demand;
failure to complete the FS; failure to receive mineral tenure for
infrastructure; and failure to obtain mining approvals under the
Mining Act; inability to negotiate access to tenure at the Port of
Esperance. 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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