This was achieved through the receipt of conversion notices from the three remaining holders of the Company's Convertible Note offering ('Note') in accordance with the terms and conditions of the private placement offering announced on
The Convertible Notes were secured notes, and now that they have been converted, the Company is in the process of finalising arrangements to extinguish the security held over the Company's
Glencore also hold a life-of-mine binding Off-Take Agreement with Macarthur for the sale of iron ore to be produced from the
The early conversion of all participating Note holders, 23 months prior to maturity, is great news for the Company and indicates strong investor support in the continued progress that the Company is making to bring its flagship
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Email: communications@macarthurminerals.com
Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its
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Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, 'forward-looking statements') within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Mineral Reserves or the eventual mining of the Project, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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