Macarthur Minerals (TSXV:MMS) has appointed Novus Capital Ltd., headquartered in Sydney, as lead manager, potential underwriter and sponsoring broker for its Australian Securities Exchange 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 Minerals, 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, Macarthur Lithium Nevada Limited, will continue to advance the Stonewall Lithium Project, located in Nevada.
ABOUT NOVUS CAPITAL LIMITED
Novus Capital Limited is an independent investment and financial services business with extensive experience in servicing the needs of both private investors and corporate clients. Novus has an extensive network of private clients, institutional investors and corporate clients. Novus also provides corporate advisory solutions across a broad range of industry sectors and has raised capital and/or advised upon over $4 billion in corporate transactions.
ABOUT MACARTHUR MINERALS LIMITED (TSX VENTURE: MMS)
Macarthur Minerals Limited is an exploration and development company that is focused on identifying and developing its iron ore projects and its high grade lithium exploration interests in Australia and Nevada. Macarthur has two advanced iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.
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