Macarthur Minerals Lodges ASX IPO Prospectus for Macarthur Australia Limited to Raise Up to A$10 Million

Macarthur Minerals (TSXV:MMS) is pleased to announce that it has lodged a prospectus with the Australian Securities and Investment Commission (“ASIC”) and applied to the Australian Securities Exchange (“ASX”) for the Initial Public Offering (“IPO”) of Macarthur Australia Limited (“Macarthur Australia”) to raise up to A$10 million.
David Taplin, President, CEO and Director of Macarthur commented:
“Lodging the prospectus for the listing of Macarthur Australia on the ASX to raise up to A$10 million is an exciting step for the Company towards advancing its Australian iron ore and lithium interests. Macarthur Minerals will retain 66-76% ownership of Macarthur Australia. We believe that an ASX IPO of our Australian iron ore and lithium projects will provide improved price realisation for those projects more consistent with our ASX listed peers.”
ASX IPO of Macarthur Australia Limited
A copy of the prospectus is available to qualified investors at www.macarthuraustralia.com
The prospectus lodged with ASIC and the ASX is for the issue of 50 million shares in Macarthur Australia at an issue price of A$0.20 per share to raise A$10 million. The minimum raise is for 25 million shares for A$5 million. Lodgement of the prospectus with ASIC and ASX for listing Macarthur Australia on the ASX follows the successful oversubscribed Pre-IPO raising for A$1.4 million. Funds raised in the IPO will allow Macarthur Australia to significantly advance its iron ore and lithium projects.
Prior to the IPO, Macarthur Minerals has been issued 125 million shares or approximately 90% of Macarthur Australia for consideration for sale of its subsidiaries, Macarthur Iron Ore Pty Ltd (“MIO”) and Macarthur Lithium Pty Ltd (“MLi”) to Macarthur Australia. MIO and MLi, respectively own the Australian iron ore and ‘hard rock’ lithium projects. Pre-IPO investors have been issued approximately 13 million shares or 9% of Macarthur Australia for A$1.5 million. Pre-IPO Macarthur Australia has a total of approximately 138 million shares on issue and on listing will have between 189 and 164 million shares on issue for a raise of up to A$10 million and a minimum of A$5 million. Post listing, Macarthur Minerals will retain between approximately 76% and 66% of Macarthur Australia.
The indicative timetable for the IPO of Macarthur Australia is opening 20 March 2017, closing 2 May 2017 and opening of trading 17 May 2017. The board of Macarthur Minerals believes that the ASX IPO of Macarthur Australia, which now owns its Australian 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.
PDAC
Macarthur Minerals will be attending the 2017 Prospectors and Developers Association of Canada (PDAC) International Convention and Investors Exchange in Toronto, March 5-8 at the Metro Toronto Convention Centre. We invite you to meet the Macarthur team at Booth #2344. The conference will provide current and prospective shareholders an opportunity to speak with management about the Company’s recent developments.
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