ARENA MINERALS INC. a junior mining company with projects in Argentina and Chile, wishes to provide an update on its financial reporting for the twelve-month audited period ended December 31, 2019 and the three-month interim period ended March 31, 2020.
Arena is relying on the exemption provided in BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements (and similar exemptions provided by other Canadian securities regulators) (the “BC Instrument”) to postpone the filing of the following continuous disclosure documents (collectively the “Documents”):
The BC Instrument provides the Company with an additional 45 days from the deadline otherwise applicable under British Columbia securities laws to make the filing. Until the Company has filed the Documents, members of the Company’s management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions such that they are in a blackout period until the end of the second trading day after the Documents have been disclosed by way of a news release.
At this time, the Company expects to file the Documents within the respective 45 day extension periods.
Recent global events pertaining to COVID-19 have impacted the Company, its employees and its ability to rely on timely information in relation to its financial reporting obligations and completion of the Company’s annual audit. There have been no material business developments since the filing of the Company’s unaudited interim financial statements and related management’s discussion and analysis for the three and nine month periods ended September 30, 2019 that have not been otherwise disclosed by the Company by way of news release.
About Arena Minerals
Arena owns three lithium brine projects in Argentina, consisting of three claims covering a total of 4,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation’s Antofalla project, claims covering 290 hectares in Salar de Hombre Muerto, and an option over 2,000 hectares in the Pocitos Salar.
Arena also 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. William Randall, P.Geo, who is a qualified person pursuant to NI 43-101. As the President & CEO of the Company, Mr. Randall is not considered independent.
To view our website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its management, and projects, the site also contains the latest corporate news, a long form text explaining the unique business model of the Company (under the tab “the Company Explained”) and an email registration allowing subscribers to receive news and updates directly.
For more information, contact William Randall, President and CEO, at +1-416-818-8711 or Simon Marcotte, Vice-President Corporate Development, at +1-647-801-7273 or smarcotte@arenaminerals.com.
On behalf of the Board of Directors of
Arena Minerals Inc.
William Randall, President and CEO