- Macarthur Minerals Limited (TSXV:MMS) intends to re-list on the OTCQB exchange and will apply to the OTCQB Markets Group in the next two weeks
- Toward this end, Macarthur Minerals has enlisted the help of Northland Capital Markets to sponsor the OTCQB application and act as an advisor in the process
- By listing on an ‘over-the-counter’ market, the company hopes to reach a greater number of US investors and potential business partners
- Macarthur Minerals is currently developing The Lake Giles Iron Project in Western Australia
- Macarthur Minerals Limited (MMS) is up 6.45 per cent, with shares trading for C$0.16 and a market cap of $16.9 million
Macarthur Minerals Limited (TSXV:MMS) intends to re-list on the OTCQB exchange.
The company plans to file an application with the OTCQB Market Group in the next two weeks.
Toward this end, Macarthur Minerals has enlisted the help of Northland Capital Markets to sponsor the OTCQB application and act as an advisor in the process.
Macarthur’s Board of Directors recently approved the sponsorship to assist with the application process. Northland is a US-based investment bank.
By re-listing on the OTC market, the company hopes to reach a greater number of US investors and potential business partners.
An OTC market, or ‘over-the-counter’ market, trades securities that do not need to be listed on an exchange.
By listing on an OTC market, the company can access US shareholders without the need to meet requirements for other more restrictive US-based exchanges like the New York Stock Exchange.
Macarthur Minerals is currently developing The Lake Giles Iron Project in Western Australia. The company is also exploring its gold, lithium and copper claims in the surrounding Pilbara area, as well as its lithium brine claims in Nevada, USA.
Cameron McCall, President and Executive Chairman of Macarthur Minerals, believes that re-listing is the right step for the company.
“I am confident that Macarthur meets all of the reporting and management requirements to have its shares trading on the OTCQB market once again.
“Quotation on the OTCQB should boost confidence in our overall business strategy by allowing greater access of the Company’s stock to U.S. shareholders and it demonstrates our desire to build long- term shareholder value. We look forward to reaching a much larger audience of potential individual and institutional investors once the process is completed” he said.
Macarthur Minerals Limited (MMS) is up 6.45 per cent, with shares trading for C$0.16 at 12:52pm EDT.
