VANCOUVER, BC –(Marketwired – July 11, 2016) – Macarthur Minerals Limited (TSX VENTURE: MMS) –
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”) is pleased to announce the appointment of Mr David Lenigas, as an independent director.
David Lenigas is a Mining Engineer, with extensive experience in the lithium business, having recently retired as the Executive Chairman of Rare Earth Minerals plc (“REM”). REM is a London listed Investment Company, which has a number of strategic investments in lithium projects around the world.
Mr Lenigas was responsible for REM’s early entry, in 2013, into the Sonora Lithium Project in northern Mexico, one of the world’s largest new lithium projects. REM has a 30% interest in the majority of the Sonora Lithium Project acreage, with TSX-V and London listed Bacanora Minerals Ltd (“BCN”). He also served as a non-executive director of BCN until the end of 2015. REM has a 15.6% interest in BCN and is one of its largest shareholders.
Mr Lenigas was also responsible for REM making an early stage 16.4% shareholding in Australian and London listed European Metals Holdings Limited (“EMH”). EMH is the owner of the Cinovec Lithium Project in the Czech Republic, the largest lithium project in the European Union, which is strategically located on the border with Germany.
Mr Lenigas is also Executive Chairman of London listed Leni Gas Cuba Limited (“LGC”), the only listed company totally focused on investing in Cuba. LGC is currently subject to a reverse takeover of TSX-V listed Knowlton Capital Inc. Following completion of the takeover, Mr Lenigas will be Co-Chairman and Chief Executive of the renamed entity; LGC Capital Ltd, listed on the TSX-V. In addition, he is the Executive Chairman of a bespoke agri-logistics company; London listed AfriAg plc, which specialises in moving significant quantities of perishable food from southern Africa to global markets. He is also the Executive Chairman of United Kingdom oil and gas company, Doriemus plc, which is part of the syndicate responsible for the new Horse Hill oil discovery near London’s Gatwick Airport.
David Lenigas commented on his board appointment: “Macarthur Minerals is building an exciting portfolio of lithium assets, and I look forward to assisting the Company with its aggressive move into the global lithium space. Lithium is fast becoming the ‘new oil’ and the world will need a lot more of it to supply the exploding demand for the metal fuelled by the ever increasing demand from the electric vehicle and energy storage sectors.”
David Taplin, President, CEO and Director commented on the appointment of the appointment of David Lenigas to the board: “Macarthur Minerals is excited to have David Lenigas join the board. David has a wealth of experience in leading the development of several world class lithium projects globally.”
GRANT OF STOCK OPTIONS
Pursuant to the Company’s Consultant Share Compensation Plan, the Company granted 2,610,000 incentive stock options to Directors, including 1,200,000 to Mr Lenigas, exercisable at $0.0525 per option for a period of 3 years from the date of grant and have no vesting conditions.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
” Cameron McCall “
Cameron McCall, Chairman
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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, including whether the Transaction will be completed. 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. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. 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 fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. 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.
Company Contact:
David Taplin
President, CEO and Director
[email protected]
Tel: +61 407470044
www.macarthurminerals.com
