RE:IPO withdrawnVANCOUVER, British Columbia, July 05, 2017 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V:MMS) (the Company or Macarthur Minerals) announces that Macarthur Australia Limited (Macarthur Australia) has withdrawn its prospectus for its initial public offering (IPO) and proposed listing on the Australian Securities Exchange (ASX) due to market conditions. David Taplin, CEO of Macarthur Minerals and Macarthur Australia, commented that It is a challenging market for raising capital. Whilst the Directors are disappointed at this outcome, the Board remains confident in the calibre of and potential in Macarthur Australias assets. Although the ASX IPO was received with interest, since the Company announced its proposed ASX IPO, the capital raising market for Australia has declined1. The value of capital raised in the public markets on the ASX is down sharply so far in 2017. Capital worth $13.67 billion has been raised over the past five months, which is down 40 per cent of the $22.6 billion raised during the same time frame last year2. Macarthur Australia remains over a 90% owned subsidiary of Macarthur Minerals. Macarthur Minerals will continue to advance the Macarthur Australia lithium and iron ore projects, as well as its Nevada lithium projects. On behalf of the Board of Directors, MACARTHUR MINERALS LIMITED