Macarthur Announces OTCQB Re-Listing
VANCOUVER, British columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) — 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 ChairmanCompany 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 StatesCaution 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; 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.