- Magnum Mining and Exploration (MGU) appoints New York City-based law firm Ellenoff Grossman and Schole LLP to handle its capital-raising activities in the USA
- At the beginning of August, the company announced its active pursuit of financing opportunities within the country to support the advancement of its Buena Vista iron project
- Ellenoff Grossman & Schole will facilitate these activities and provide legal oversight, subject to a monthly retainer that can be terminated at any time
- Magnum’s major focus will be on its IPO on a leading US stock exchange
- MGU shares are up 5.13 per cent, trading at 4.1 cents at 11:20 am AEST
Magnum Mining and Exploration (MGU) has engaged the services of New York City-based law firm Ellenoff Grossman & Schole LLP to oversee its capital-raising endeavours in the USA.
In early August, the company revealed its active pursuit of financing opportunities within the country to support the advancement of its Buena Vista iron project located in Nevada.
Subsequently, Magnum has also enlisted EAS Advisers to serve as its corporate strategists, aiming to initiate a private placement as part of its introduction to the North American capital markets. The overarching strategy includes pursuing a listing on a major US stock exchange.
To facilitate these initiatives, Magnum engaged Ellenoff Grossman & Schole, a law firm boasting a team of more than 125 professionals specialising in various areas of commercial law. The arrangement involves a monthly retainer that can be terminated at any time.
Of primary focus for Magnum will be its preparations for an Initial Public Offering (IPO) on a prominent US stock exchange.
MGU shares were up 5.13 per cent, trading at 4.1 cents at 11:20 am AEST.