TORONTO, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Arena Minerals Inc. (“Arena” or the “Company”) (TSX-V: AN) is pleased to announce the appointment of Mr. Eduardo Morales to its Board of Directors, effective immediately.
Mr. Morales is a chemical engineer with 40 years of experience in project engineering, construction and start-up of lithium plants who formerly built and operated one of the world’s largest lithium operations. As President of Rockwood Lithium Latin America, he successfully led the development, commissioning and operation of Rockwood’s Salar de Atacama project. His tenure with Rockwood Lithium culminated with the company’s sale to Albemarle Corporation for US$6.2 billion in 2014. In 2016, Mr. Morales was appointed Chief Operating Officer of Lithium X Energy Corp. and focused on advancing the Sal de los Angeles lithium brine project, located in the Salta province of Argentina, until construction stage. Lithium X was acquired less than 2 years later by Nextview New Energy Lion Hong Kong Limited in a $265M transaction.
Will Randall, President and CEO of Arena Minerals commented: “We are very pleased to welcome Eduardo to our team. Having worked with Eduardo during his time with Lithium X, I am confident he will bring his extensive knowledge in processing and development to assist the Company strategically when it comes to evaluating potential acquisitions.”
Mr. Morales will be replacing Simon Marcotte on the Board of Directors. Mr. Marcotte will now transition to the operating team, acting as Director, Corporate Development. Mr. Marcotte has more than 20 years of experience in Capital Markets having held senior positions notably with CIBC World Markets, Cormark Securities, Alderon Iron Ore Corp., Belo Sun Mining Corp. and Mason Graphite Inc.
Lastly, the Company announces that is has granted an aggregate of 4,000,000 stock options to various directors, officers and consultants of the Company effective September 21, 2018. The stock options vest immediately, are exercisable at $0.09 for a period of five years and remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The stock options remain subject to a statutory hold period of four months and one day expiring on January 22, 2019.
About Arena Minerals
Arena Minerals 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. The technical and scientific aspects of this news release have been reviewed and approved by Mr. Vernon Arseneau, P.Geo, who is a qualified person pursuant to NI 43-101. As the Vice President of Exploration of the Company, Mr. Arseneau is not considered independent.
To view the website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its managements and projects, the website also contains the latest corporate news and an email registration allowing subscribers to receive news and updates directly.
For more information, contact William Randall at +1-416-818-8711 or Simon Marcotte at +1-647-801-7273
On behalf of the Board of Directors of
Arena Minerals Inc.
William Randall, President and CEO
Cautionary Note Regarding Accuracy and Forward-Looking Information:
This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company’s properties, the anticipating timing with respect to the private placement financing, the ability of the Company to complete the private placement financing, the results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project, and the Company’s ability to obtain financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company’s interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.