Join our daily newsletter At The Bell to receive exclusive market insights
- Macarthur Minerals (MIO) intends to re-list on the OTCQB market to expand its exposure to over-the-counter markets
- The company will file its application within the next two weeks
- Macarthur Minerals has enlisted the help of investment bank Northland Capital Markets to sponsor the OTCQB application
- By listing on an over-the-counter market, the company hopes to reach a greater number of U.S. investors and potential business partners
- Macarthur Minerals is currently developing The Lake Giles Iron Project in Western Australia
- Macarthur Minerals shares are 17.7 per cent higher today, trading for 20 cents each
Macarthur Minerals (MIO) intends to re-list on the OTCQB market to expand its exposure to over-the-counter markets.
An OTC market, or over-the-counter market, allows companies to trade securities without the oversight of traditional exchanges.
The company will file its application within the next two weeks.
Macarthur will need to seek the approval of the OTCQB Markets Group in order to successfully re-list.
To aid this process, Macarthur Minerals has enlisted the help of U.S.-based investment bank 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.
By re-listing on the OTCQB market, the company hopes to reach a greater number of U.S. investors and potential business partners.
By listing on an OTC market, the company can access U.S. shareholders without the need to meet requirements for other more restrictive U.S.-based exchanges, such as 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, U.S.
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,” Cameron remarked.
“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 shares are 17.7 per cent higher today, trading for 20 cents each.
