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Macarthur Minerals Ltd Announces ASX Rights Trading Commencement | ASX: MIO

Macarthur Minerals Limited (TSXV: MMS) (ASX: MIO) (OTCQB: MMSDF) is proud to announce that trading of the Renounceable Rights Issue, previously disclosed on February 28, 2024, started today under the ASX code MIOR.

ASX Rights Trading Update

Trading of rights under the Rights Issue will conclude on March 15, 2024. Macarthur offers this Rights Issue to its shareholders in Australia and New Zealand who are recorded by March 7, 2024. Each shareholder is eligible to purchase one new share at $0.10 for every five shares owned. Additionally, for every two new shares bought, the shareholder receives one free option, exercisable at $0.25, valid for 18 months.

Eligible Shareholders will receive the prospectus and application information on March 8, 2024. The offer also permits the purchase of extra shares beyond their entitlement. Shareholders can apply through BPAY® until the closing date on March 22, 2024.

Company Highlights

Macarthur Minerals focuses on developing its iron ore projects in Western Australia and exploring lithium in Nevada, USA. Its projects include significant reserves and resources, emphasizing the Lake Giles Iron Project with comprehensive Mineral Resource and Ore Reserve estimates. The company has continually advanced its project portfolio towards production.

Cameron McCall, Executive Chairman and CEO, announced this on behalf of the Board of Directors.

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