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or Name
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Voltaic Minerals Corp (2)
Symbol VLT
Shares Issued 13,962,667
Close 2018-12-21 C$ 0.15
Market Cap C$ 2,094,400
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Voltaic Minerals to acquire mineral claims in Argentina

2018-12-27 09:30 ET - News Release

Mr. Darryl Jones reports

VOLTAIC MINERALS CORP. ANNOUNCES AGREEMENT TO ACQUIRE ARGENTINE MINERAL CLAIMS

Voltaic Minerals Corp. has entered into a binding assignment agreement dated Dec. 20, 2018, among the company, 1146915 B.C. Ltd. (PrivCo) and the underlying claim owners (the vendors) in respect of two mineral claims covering a total of 6,778.02 hectares in Salta province, Argentina.

Pursuant to an agreement dated Dec. 2, 2018, among PrivCo and the vendors, PrivCo became entitled to acquire a total of six mineral claims (including the claims) from the vendors.

Pursuant to the agreement, PrivCo has assigned its rights in and to the claims under the agreement to Voltaic in consideration of $500,000. All consideration payable to the vendors pursuant to the underlying agreement remains the obligation of PrivCo, and, in addition, PrivCo has granted Voltaic a general security agreement over all the present and after-acquired assets of PrivCo as security for the performance of PrivCo of its obligations under the underlying agreement.

The claims are in the heart of the world's lithium brine hotbed and less than 15 kilometres from the Hombre Muerto salar, the premier lithium brine basin in Argentina -- high grade, low impurities (lithium-to-magnesium ratio: under 4) -- that has been in production for over 20 years.

Voltaic chief executive officer Darryl Jones commented: "It is an exciting time for the company as we embark on a very exciting new direction; adding the claims in Argentina alongside our cobalt property in Montana, we are positioned exceptionally well in the battery metals market. We see this acquisition as a small first step in Argentina and are looking forward to being more active in the region in the future."

We seek Safe Harbor.

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