Bad news IMO Macarthur Minerals Reports Annual General Meeting Results
VANCOUVER, BC--(Marketwired - August 31, 2016) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Macarthur Minerals Limited (TSX VENTURE: MMS) (the "Company" or "Macarthur Minerals") pleased to announce that all resolutions were passed at the Annual General Meeting of the Company held today in Brisbane, Australia.
Macarthur Minerals' Chairman, Cameron McCall commented that, "Macarthur takes this opportunity to thank its shareholders for its high level of support. Almost 58% of the Company's shareholders participated in the meeting, with 84 -- 92% of those shareholders voting in support of all resolutions."
Rare Earth Minerals plc ("Rare Earth Minerals") hold 15,000,000 warrants and have now received shareholder approval for the future issue of shares on the exercise of those warrants. The exercise of their warrants, will provide an additional $750,000 to the Company and increase Rare Earth Minerals' interest from 12.29% to 21.89% of Macarthur Minerals' issued capital.
Rare Earth Minerals is a specialist Investment Company with significant interests in the Sonora Lithium Project in Mexico and the Cinovec Lithium Project in the Czech Republic and currently holds 12.29% of Macarthur Minerals.
The results of the Annual General Meeting are set out in Appendix 1.
ABOUT MACARTHUR MINERALS LIMITED (TSX VENTURE: MMS)
Macarthur Minerals Limited is an exploration and development company that is focused on identifying and developing high grade lithium and counter cyclical investments, with significant lithium exploration interest in Australia and Nevada. In addition, Macarthur has two iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.