Macarthur Minerals Appoints Novus Capital as Lead Manager for Listing its Australian Iron Ore and Lithium Projects on the ASX.

Macarthur Minerals (TSXV:MMS) is pleased to announce that it has appointed Novus Capital Limited head quartered in Sydney (“Novus”) as lead manager, potential underwriter and sponsoring broker for its Australian Securities Exchange (“ASX”) Initial Public Offering (“IPO”) of its Australian iron ore and lithium projects targeted for March/April 2017.
Novus Capital will immediately undertake a Pre-IPO raising for up to A$1 million in Macarthur Minerals’ new subsidiary Macarthur Australia Limited, which it intends to list on the ASX. Close of the Pre-IPO raising is targeted for 24 February 2017. Macarthur Australia Limited intends to raise up to $10 million to further develop Macarthur’s iron ore and lithium projects. Macarthur Minerals will be the majority shareholder of Macarthur Australia Limited post its intended listing on the ASX.
David Taplin, President, CEO and Director of Macarthur commented: “The appointment of Novus Capital is an exciting milestone for commencement of the ASX IPO process for Macarthur’s Australian iron ore and lithium projects. Novus through its Australian broker network will immediately raise A$1 million in Pre-IPO funds in Macarthur Australia Limited followed by an ASX IPO capital raising targeted for Quarter 2, 2017 for up to A$10 million.”
ASX Listing
The previously announced ASX IPO of the Company’s Australian iron ore and lithium projects, is well advanced. Macarthur Minerals will maintain majority ownership and control of the intended ASX IPO listed entity, Macarthur Australia Limited.
The board of Macarthur Minerals believes that an ASX IPO of its Australian subsidiaries, which hold its Australian ‘hard rock’ iron ore and lithium projects, will provide improved price realisation for those projects more consistent with its ASX listed peers.
Macarthur Minerals’ wholly owned subsidiary, Macarth.ur Lithium Nevada Limited, will continue to advance the Stonewall Lithium Project, located in Nevada.
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