Mms closes private placement25 Feb 2019 13:52
Macarthur Minerals Limited (TSX-V: MMS, OTCQB: MMSDF) (the “Company” or “Macarthur Minerals”) is pleased to announce that it has closed the previously announced non-brokered private placement (the “Offering”) of up to 8,750,000 Units (each, a “Unit”) at a price of CAD$0.04 per Unit for a total consideration of CAD$350,000.
The total placement closed with subscriptions totalling 7,643,950 Units for gross proceeds of CAD$305,758. Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share").
Following closing of the Offering, Macarthur Minerals will have 304,936,284 common shares issued and outstanding.
The TSX Venture Exchange has waived the CAD$0.05 minimum pricing requirement in accordance with TSX Venture Exchange bulletin dated April 7, 2014, “Discretionary Waivers of $0.05 Minimum Pricing Requirement”.
The closing of the Offering is subject to final approval from the TSX Venture Exchange.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS, OTCQB: MMSDF)
Macarthur Minerals Limited is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The iron ore projects are Ularring hematite (approved for development) and the one plus billion tonne Moonshine magnetite. Macarthur Minerals has prominent (~1,130 square kilometer tenement area) gold, lithium, nickel, cobalt exploration interests in Pilbara region of Western Australia. In addition, Macarthur Minerals has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.
That was very quick :)
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