Vancouver, British Columbia: Alset Energy Corp. (TSXV: ION) (“Alset” or “the Company”) is pleased to announce that drilling has commenced on the La Salada salar in Zacatecas, Mexico. The exploration program includes two deep holes to test for brine horizons, sediment composition and depth to basement; followed by a shallow subsurface sampling program. Material from this work will be sent for geochemical and mineralogical analysis, leach testing, and scoping metallurgical testing to assess grade and recovery characteristics.
Allan Barry Laboucan, President and CEO of Alset Energy said: “Our team has worked hard to get to this stage where we can start drilling and carrying out further sampling on the La Salada salar. La Salada is one of our highest grade salars based on past historical work, but we really need to better understand the distribution of lithium, potassium and boron throughout the salar and to test for brine horizons. I look forward to a good news flow from this program as we will be very busy working at La Salada and sending material in for testing.”
Arian Silver Corporation (“Arian” or the “Company”), the Mexico focused AIM quoted resource development company, announces it has entered into an option agreement (the “Option Agreement”) to acquire three lithium exploration projects (the “Projects”) through its wholly owned Mexican subsidiary, Compañia Minera Estrella de Plata SA de CV (“Arian Mexico”). The Projects will be acquired from Comercializadora Gacu SA de CV, a privately held company, for an aggregate consideration of up to US$200,000 payable in instalments over the next 12 months. The Projects cover a total expanse of over 1,600 hectares (“ha”) in a prospective region of Zacatecas State, Mexico, known for its lithium deposits.
Thunder Bay, Ontario: Alset Energy Corp. (TSXV: ION) (“Alset” or “the Company”) announces that it has closed the first tranche of its previously announced re-priced private placement (the “Offering”) (See PR dated October 6, 2016). Gross proceeds from the tranche totaled $207,940 consisting of 256,667 flow-through units (“FT”) for $30,800 and 1,771,400 non flow-through units (“NFT”) for $177,140. The Company will keep to financing open until October 21, 2016 to raise up to $1 million on a best efforts basis.
Each FT unit will be issued at $0.12 and will consist of one (1) FT common share and one-half of one common share purchase warrant, each full common share purchase warrant being exercisable at $0.20 cents for 24 months. FT funds will be used to advance the Wisa Lake spodumene and Champion Graphite projects in Ontario.
THUNDER BAY, ONTARIO, Oct 04, 2016 (Marketwired via COMTEX) — THUNDER BAY, ONTARIO–(Marketwired – Oct 4, 2016) – Alset Energy Corp. (ION) (“Alset” or “the Company”) would like to provide further clarification and detail related to its press release dated October 3, 2016.
In May 2016 (see PR dated May 10, 2016), the Company executed a letter of intent to acquire up to 10 mineral concessions covering 16 known Lithium, Potassium and Boron-rich salars located in the States of Zacatecas and San Luis Potosi, Mexico. Upon review of the technical data including a property examination by the Company and its advisors, the Company elected to acquire 4 large concessions containing the 7 top priority salars (see PR dated July 13, 2016) which include Caliguey, La Doncella, Colorada, La Salada, Santa Clara, Saldivar and Chapala and several smaller earlier-stage salars. The Company selected these salars due to their attractive lithium, potassium and boron values from limited shallow sampling of the unconsolidated material down to a depth of five metres. Of particular interest is the La Salada salar where preliminary and unaudited analyses of samples from the southern half of the salar returned grades frequently exceeding 1500 mg/l with occasional values over 2000 mg/l lithium, 8% potassium and 60 mg/l boron. The depth and grade beneath 5m is unknown at this time but preliminary geophysical surveys indicate a possible depth of 70 metres.
CALGARY, ALBERTA–(Marketwired – Sept. 30, 2016) – Bacanora Minerals Ltd. (“Bacanora” or the “Company“), the Toronto and London listed (TSX VENTURE:BCN) (AIM:BCN) company focused on developing the Sonora Project (“Sonora” or the “Project“) in Mexico into a world class lithium carbonate operation, announces that it has received an unsolicited non-binding indicative proposal (the “Proposal“) from Rare Earth Minerals plc (“REM“), an AIM listed investment vehicle with a 19.8% holding in the Company. The Proposal envisages an all-share merger of Bacanora and REM with REM acting as the acquiring entity (via a reverse takeover) and issuing newly issued REM shares to Bacanora’s shareholders. The merger exchange ratio proposed by REM is between 135 and 141 REM shares for each outstanding Bacanora share (the “Proposed Offer“). The Board of Bacanora strongly rejects the Proposal believing it significantly undervalues the Company and jeopardises Sonora’s development path to production.
CALGARY, ALBERTA–(Marketwired – Sept. 28, 2016) – Bacanora Minerals Ltd. (“Bacanora” or the “Company“), the Toronto and London listed (TSX VENTURE:BCN)(AIM:BCN) company focused on developing the Sonora Project (“Sonora” or the “Project“) in Mexico into a world class lithium carbonate operation, held its Annual and Special Meeting of the Company in Canada today. All resolutions were duly passed other than resolution 5 to approve the re-domicile of the Company to the UK by means of the Plan of Arrangement, as set out in the Supplement to the Management Information Circular sent to shareholders dated August 30, 2016.
Rare Earth Mineral Plc (AIM: REM; OTC: REMMY) has agreed to acquire a further 4.5 million existing ordinary shares in Bacanora Minerals Ltd for a consideration of £4.5 million [via an on market transaction]. Completion is due by the end of the month.
Once this acquisition complete REM will own a direct interest of 19.8% of Bacanora. REM holds joint joint venture interests of 30% in each of Mexalit S.A. de CV (“Mexalit”) and Megalit S.A. de CV (“Megalit”) as fully described below.
CALGARY, ALBERTA–(Marketwired – Sept. 20, 2016) –BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN)(AIM:BCN), the Canadian and London listed lithium and borates company focussed on Mexico, has noted that Igneous Capital Limited (“Igneous”), a company in which Mr. Graham Edwards has an interest, notified SEDI in Canada on 17 September 2016 that it had agreed to sell 4.5 million shares in Bacanora on 16 September 2016 at £1 per share. Igneous’ shareholding in the Company on completion of the sale will be 10.5 million shares representing 9.73% of the issued share capital of the Company. The Company also notes the announcement this morning by Rare Earth Minerals Plc that it has agreed to acquire 4.5 million shares in Bacanora with completion due by the end of the month, taking its interest to 19.8% of the Company’s issued share capital.
CALGARY, ALBERTA–(Marketwired – Aug. 31, 2016) – Further to the announcement dated August 11, 2016, Bacanora Minerals Ltd. (TSX VENTURE:BCN)(AIM:BCN) (“Bacanora Canada” or the “Company“), the AIM and TSX Venture Exchange (“TSX-V“) listed lithium and borates company focussed on Mexico, announces that it has posted to shareholders a supplement to the management information circular of the Company dated July 14, 2016 (the “Supplement“) convening the postponed annual and special meeting of Bacanora Canada to be held at Gowling WLG (Canada) LLP, at 1600, 421 – 7th Avenue S.W., Calgary, Alberta, Canada, T2P 4K9 on September 28, 2016 at 10:00 a.m. (Calgary time), together with an amended form of proxy for voting at the postponed meeting. Original forms of proxy sent to shareholders with the management information circular of the Company dated July 11, 2016 will not be valid for voting at the postponed meeting.
CALGARY, ALBERTA–(Marketwired – Aug. 11, 2016) – Further to the announcement dated August 10, 2016, Bacanora Minerals Ltd. (TSX VENTURE:BCN)(AIM:BCN), the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that it has obtained an amended interim order from the Alberta Court of Queen’s Bench to postpone its upcoming annual and special meeting of its shareholders from August 15, 2016 to 10:00 a.m. (Calgary time) on September 28, 2016 at the offices of Gowling (WLG) Canada LLP at 1600, 421 – 7 Avenue SW, Calgary, Alberta, Canada.
The Company intends to post to shareholders shortly an addendum to the management information circular of the Company dated July 11, 2016 and an amended form of proxy for voting at the postponed meeting.