Macarthur Announces OTCQB Re-Listing
September 15 2020 - 8:00AM
Macarthur Minerals Limited
(ASX: MIO) (TSX-V: MMS) (OTCQB:
MMSDF) (the “Company” or “Macarthur”) is pleased to update
shareholders that its common shares commenced trading today on the
OTCQB Venture Market (“OTCQB”), a United States trading platform
operated by the OTC Markets Group in New York. Effective
immediately, the Company will commence trading on the OTCQB under
the symbol “MMSDF”. Real-time quotes and market information
on the Company are available at
www.otcmarkets.com/stock/MMSDF/quote with Northland Securities Inc.
acting as the Company’s sponsor. The Company secured DTC
eligibility from The Depository Trust Company (“DTC”) for
electronic settlement and transfer of its common shares in the
United States earlier in the year.
The OTCQB is the premier marketplace for
entrepreneurial and development stage international and United
States companies that are committed to providing a high-quality
trading and information experience for their United States
investors. To be eligible, companies must be current in their
financial reporting, pass a minimum bid price test, and undergo an
annual company verification and management certification process.
The OTCQB quality standards provide a strong baseline of
transparency, as well as the technology and regulation to improve
the information and trading experience for investors. The ability
to have the Company's shares electronically transferred between
brokerages in the United States is significantly more convenient
and reduces the costs incurred in trading shares. When shares
are traded electronically, existing investors benefit from greater
liquidity and execution speeds, while opening the door to new
investors that may have been previously restricted from the
Company's shares. Macarthur shares previously traded on the OTC
Pink Open Market (“MMSDF”) will now trade on the OTCQB without any
further action required by shareholders.
The DTC is a subsidiary of the Depository Trust
& Clearing Corporation ("DTCC") and manages the electronic
clearing and settlement of publicly traded companies. Securities
that are eligible to be electronically cleared and settled through
the DTC are considered "DTC eligible”. This electronic method of
clearing securities speeds up the receipt of stock and cash, and
thus accelerates the settlement process for investors and brokers
reducing transactional costs for participating brokerage firms,
enabling the stock to be traded over a much wider selection of
brokerage firms by coming into compliance with their
requirements.
Cameron McCall, President and Executive
Chairman of Macarthur Minerals commented:“Macarthur’s
re-listing on the OTCQB provides the Company with access to an
efficient and transparent trading platform within the United States
market. This will also give the added opportunity to expand the
Company’s presence in the United States to reach a broader investor
audience and will provide its current and future United States
investors with appropriate accessibility and liquidity to invest in
the Company’s shares”.
On behalf of the Board of Directors, Mr Cameron McCall,
Executive Chairman
For more
information please contact: |
|
|
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Joe Phillips |
|
CEO & Director |
|
+61 7 3221 1796 |
|
communications@macarthurminerals.com |
|
|
|
Investor Relations – Australia |
Investor Relations - Canada |
Advisir |
Investor Cubed |
Sarah Lenard, Partner |
Neil Simon, CEO |
sarah.lenard@advisir.com.au |
+1 647 258 3310 |
|
info@investor3.ca |
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 Lake Giles magnetite resource
of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated)
and 997 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
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. 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; conversion of Mineral
Resources to Mineral Reserves 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; failure to complete the FS; inability
to demonstrate economic viability of Mineral Resources; and failure
to obtain mining approvals. 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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