Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) is pleased to announce that it has closed the previously announced private placement offering of US$6 million of secured Convertible Note on conditional acceptance.
The total placement closed with subscriptions totalling 600 Notes for gross proceeds of US$6,000,000 with attaching warrant offered for one fourth of the Commitment amount.
All securities issued under the Offering are subject to a restricted (or “hold”) period of four months and one day following the distribution date of the Note and Warrant, under applicable Canadian securities legislation.
ABOUT MACARTHUR MINERALS LIMITED
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Ore Project includes the 80 million tonne Ularring hematite resource (approved for development) and the 710 million tonne Moonshine magnetite resource. Macarthur has prominent (~1,130 square kilometer tenement area) gold, lithium and nickel exploration interests in Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.
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