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Dajin’s Partner LSC Lithium Corporation to be Acquired by Pluspetrol Resources Corporation B.V.
Mar. 12, 2019 03:14PM PST
Battery Metals
Dajin Resources Corp. (“Dajin”) (TSXV:DJI) (OTC:DJI) (Frankfurt:C2U1) reports that on March 8, 2019 at a Special Meeting of the shareholders of LSC Lithium Corporation a special resolution was passed approving a statutory plan of arrangement whereby Pluspetrol Resources Corporation B.V. will acquire 100% of the issued and outstanding common shares of LSC Lithium Corporation for a cash consideration of approximately CDN $111 million.
Dajin Resources Corp. (“Dajin”) (TSXV:DJI) (OTC:DJI) (Frankfurt:C2U1) reports that on March 8, 2019 at a Special Meeting of the shareholders of LSC Lithium Corporation a special resolution was passed approving a statutory plan of arrangement whereby Pluspetrol Resources Corporation B.V. will acquire 100% of the issued and outstanding common shares of LSC Lithium Corporation for a cash consideration of approximately CDN $111 million. All regulatory approvals that are required relating to the final closing of the transaction are expected to be received on or about March 15, 2019.
Dajin Resources S.A. (“Dajin S.A.”), is presently partnered with LSC Lithium Corporation who has an earn-in agreement to spend CDN $2,000,000 in exploration expenditures to earn a 51% interest in Dajin S.A. ‘s. concessions while building a significant presence in Argentina.
Dajin S.A. holds concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Lithium, Potassium, and Boron values. These concessions exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes and Guayatayoc salt lake basins. During the initial exploration program brine samples from of a portion of the holdings covering an area of 550 hectares (1,359 acres) in the northwestern corner of the 4,300 hectares (10,621 acres) San Jose ˗ Navidad minas were taken. Lithium brine concentrations ranged from 281 mg/l to 1,353 mg/l, averaging 591 mg/l.
About Pluspetrol: (www.pluspetrol.net)
Pluspetrol is a private, international energy company with over 40 years of experience in the exploration and production of oil and gas. Pluspetrol is the third largest hydrocarbons producer in Argentina. With operations in Angola, Argentina, Bolivia, Colombia, Netherlands, Peru, United States and Uruguay. Pluspetrol promotes energy development and fosters activities at an international level. With a view to the future, Pluspetrol is making significant investments in Argentina. Pluspetrol has created the company Litica Resources to enter the business of “battery metals”.
About Dajin: (www.dajin.ca)
In Nevada Dajin holds a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp’s first borax mine. Dajin has entered into an agreement with Cypress Development Corp whereby Cypress can earn a 50% interest in 145 placer claims covering 2,921 acres (1,182 hectares) in the Alkali Spring valley of Esmeralda County, Nevada, located 10 miles (15 kilometers) northeast of Albemarle’s Silver Peak Lithium brine operation in Clayton Valley.
ON BEHALF OF DAJIN’S BOARD OF DIRECTORS
Brian Findlay
President & CEO
For further information please contact Dajin:
604-609-6151 or info@dajin.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Source: dajin.ca