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Macarthur Minerals (ASX:MIO) - General Manager, International Sales and Marketing, Jonghyun (Richard) Moon (centre) - The Market Herald
General Manager, International Sales and Marketing, Jonghyun (Richard) Moon (centre)
Source: Macarthur Minerals
  • Macarthur Minerals (MIO) has cleared the final regulatory hurdle and can now re-list on the OTCQB
  • The company was notified that its sponsor and advisor, Northland Securities, confirmed Financial Industry Regulation Authority (FINRA) Form 211 has been reviewed
  • Form 211 must be completed before a company can begin or resume operations on a stock exchange and by completing it has confirmed all applicable requirements have been met
  • Macarthur first announced its intentions to list on the OTCQB in mid-May, aiming to expand its exposure to over-the-counter (OTC) markets and reach a greater number of U.S. investors
  • OTC markets allow companies to trade shares directly between investors rather than through a formal exchange such as the ASX or NYSE
  • The company will provide further details once it has confirmed the date of when it can begin trading
  • Macarthur is currently steady on the market and shares are trading for 27 cents each

Macarthur Minerals (MIO) has cleared the final regulatory hurdle and can now re-list on the OTCQB.

The company was notified that its sponsor and advisor, Northland Securities, confirmed Financial Industry Regulation Authority (FINRA) Form 211 has been reviewed by FINRA.

Form 211 must be completed before a company can begin or resume operations on a stock exchange and by completing it has confirmed all applicable requirements have been met.

Macarthur first announced its intentions to list on the OTCQB in mid-May, aiming to expand its exposure to over-the-counter (OTC) markets.

OTC markets allow companies to trade shares directly between investors rather than through a formal exchange such as the ASX or NYSE.

While they are generally riskier and more prone to manipulation, it is easier to trade between international parties.

The company hopes that by re-listing, it can reach a greater number of U.S. investors and potential business partners.

Macarthur will provide further details once it has confirmed the date it can begin trading.

"This has been an important quarter for the company with many major milestones achieved," President and Executive Chairman Cameron McCall said.

"Macarthur's many successes in 2020 have been amplified by the fact they have been achieved in the midst of the global COVID-19 pandemic. With our focus on the many more successes which need to follow, we are more committed than ever to the successful delivery of the Lake Giles Iron Project," he added.

Macarthur is steady on the market and shares are trading for 27 cents each at 12:17 pm AEST.


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