REM Acquires 16.5% of Macarthur Minerals Limited

On Oct. 27, 2016, Rare Earth Minerals PLC (LSE-REM), an investment company listed on the Alternative Investment Market of the London Stock Exchange, acquired ownership and control of 7.5 million common shares in the capital of Macarthur Minerals Ltd. (TSXV:MMS) at a price of five cents per share, through the exercise of 7.5 million share purchase warrants of the company for total consideration of $375,000.
The exercise of 7.5 million warrants increases REM’s interest from 11.69 per cent to 16.56 per cent of the company’s issued share capital.
REM was previously issued 15 million warrants as part of a private placement in the company, which closed on May 9, 2016, at an exercise price of five cents per share. Shareholder approval was received at the company’s annual general meeting on Aug. 31, 2016, for the issue of shares in connection with the exercise of those warrants. REM now has 7.5 million warrants remaining to be exercised, which expire on May 8, 2017.
A copy of the early warning report pursuant to NI 62-103 required to be filed with the applicable securities commissions in connection with the acquisition of the shares described in this news release will be available for viewing under the company’s profile at SEDAR.
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