Arena applies to upgrade to OTCQX Best Market
2022-06-24 19:11 ET - News Release
Mr. William Randall reports
ARENA MINERALS APPLIES FOR TRADING ON THE OTCQX, PROVIDES ADDITIONAL INFORMATION ON INVESTOR RELATIONS AGREEMENTS
Arena Minerals Inc. has submitted an application to upgrade to trade on the OTCQX Best Market from the OTCQB Venture Market under its existing symbol AMRZF. The application is subject to final approval from OTC Markets Group. U.S. investors can find current financial disclosure and real-time Level 2 quotes for the company on the OTC Markets website.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Graduating to the OTCQX market is anticipated to provide improved liquidity, an enhanced trading experience for current and potential U.S. investors, and expose the company to a broader market.
Investor relations agreements
Further to the news releases of Oct. 15, 2021, and April 11, 2022, the company provides additional information regarding its engagement of OGIB Corporate Bulletin and Digitonic Ltd. to provide investor relations services to the company.
OGIB, based in Vancouver, B.C., is a firm which provides investor relations services to public companies in a variety of industry segments. OGIB's services were provided to the company through its principal, Keith Schaefer. Pursuant to the Oct. 13, 2021, agreement between the company and OGIB, OGIB assisted in content preparation and publication of information about the company for a period of six months. In accordance with the OGIB agreement, OGIB received $200,000 (plus applicable taxes), which was paid in advance on OGIB's engagement. The contract concluded at the end of its six-month term in April, 2022.
Digitonic is based in Glasgow, Scotland. Digitonic provides investor relations services to public companies in a variety of industry segments. Digitonic's services are provided to the company through Neil Reynolds. Pursuant to an agreement entered into with Digitonic on Sept. 13, 2021, Digitonic provided advertising, corporate marketing and investor awareness services, including, but not limited to, content creation management, project management and media distribution. In March, 2022, Digitonic was paid $216,000 (U.S.) to provide its services for a period of 12 months ending April 11, 2023.
To the company's knowledge, neither OGIB, nor Digitonic, nor their respective principals or employees have any direct or indirect interest in the company, own any securities of the company, or have any right or intent to acquire such securities. OGIB and Digitonic are at arm's length to the company. All content describing the company prepared by OGIB and Digitonic has been or will be reviewed by the company prior to its publication or distribution.
The OGIB agreement and Digitonic agreement are subject to the approval of the TSX Venture Exchange.
About Arena Minerals Inc.
Arena owns 65 per cent of the Sal de la Puna project covering approximately 11,000 hectares of the Pastos Grandes basin located in Salta, Argentina. The claims are highly prospective and share the basin with two advanced lithium brine projects. In addition to Sal de la Puna, the company 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, located immediately south of Albemarle Corp.'s Antofalla project. Arena 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 per cent of the Atacama copper property within the Antofagasta region of Chile and 5.8 million shares of Astra Exploration. 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 information contained in this news release has been reviewed and approved by William Randall, PGeo, who is a qualified person as defined under National Instrument 43-101. Mr. Randall is a director, and is the chief executive officer and president of Arena.
We seek Safe Harbor.
© 2022 Canjex Publishing Ltd. All rights reserved.