Magnum Mining and Exploration locks in NY law firm as US exchange listing in sight

• Magnum Mining and Exploration (ASX:MGU) is seeking to list on a US index
• The company has appointed a NY-based law firm to assist
• EAS Advisers will also be appointed to strategise towards a US listing
• The company reports it’s already in contact with a “consortium of bankers”
• Shares last traded at 2.5 cents

Magnum Mining and Exploration (ASX:MGU) has appointed NY law firm Ellenoff Grossman & Schole as a principal provider of legal advice – ahead of plans to list on a US stock exchange.

This comes in the same move Magnum has ditched its plans to list on the OTCQB alternative investment market in the US.

Magnum oversees its 100-owned iron ore project in the American state of Nevada.

Finance and strategy

A third company, EAS Advisers, has been appointed by Magnum as corporate strategist.

EAS will spearhead the company’s efforts to finance in the US and, eventually, possibly list on a US exchange.

Magnum intends to launch a private placement (off-market) in the US at first to “introduce” itself to the North American capital market.

This will precede a “strategy of listing” which could ultimately entail a US IPO, or, acquisition of an already listed company.

Interested parties extant

Magnum reported this morning that it has already made contact with “a consortium of bankers and corporate advisers” on its path towards a US listing.

The company announced it believed a public listing on Wall Street is the company’s best shot at advancing the Buena Vista project.

For this reason, the company is ditching its earlier identified plans to list on the OTCQB.

MGU shares last traded at 2.5 cents.