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  • Arena Minerals (AN) has received shareholder approval from Centaur Resources to acquire the Sal de la Puna lithium brine project
  • The project is located in Pastos Grandes Salar, Salta, Argentina
  • Arena Minerals will acquire a wholly-owned subsidiary of Centaur Resources, which indirectly owns 100 per cent of the project
  • The Sal de la Puna lithium brine project covers 11,000 hectares
  • Arena Minerals is down 3.23 per cent, trading at C$0.15 at 12:48 pm ET

Arena Minerals (AN) has received shareholder approval from Centaur Resources to acquire the Sal de la Puna lithium brine project.

The project is located in Pastos Grandes Salar, Salta, Argentina.

The deal will see Arena Minerals acquire a wholly-owned subsidiary of Centaur Resources, which indirectly owns 100 per cent of the project.

The Sal de la Puna lithium brine project covers 11,000 hectares of the Pastos Grandes basin in Argentina. 

This shareholder approval, along with completion of due diligence by the company, is the primary condition precedent to the closing of the share purchase agreement.

“The acquisition of Sal de la Puna is subject to certain conditions precedent, which if not received would make the closing of the transaction impossible. One of these was the approval of the current Centaur shareholders, which held a general meeting on June 28, 2021 and voted in favour of the proposed transaction. We are delighted to be able to move closer to closing this transformative acquisition, as the remaining conditions centre primarily around satisfactory conclusion of due diligence on behalf of Arena,” said Arena President and CEO William Randall.

The project hosts a large portion of the Pastos Grandes salar adjacent and south of Millennial Lithium’s 12,700-hectare project and Litica’s Pozuelos-Pastos Grandes project which shares the northern portion of the same salar.

Toronto-based Arena Minerals owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla. The company has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products.

Arena also owns 80 percent of the Atacama Copper property, consisting of two projects covering approximately 7,000 hectares within the Antofagasta region of Chile. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile’s premier copper mining district.

Arena Minerals is down 3.23 per cent, trading at C$0.15 at 12:48 pm ET.

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