Argentina Metals Announces Closing of Acquisition of Portfolio of Properties in Mendoza, Argentina from Maref Group
Rhea-AI Summary
Argentina Metals (OTCQB: VLLCF) has closed the acquisition of a 100% interest in the Angellica, Roma, Veneto and Belluno properties in Mendoza, Argentina, totaling 19,151 hectares, from Andean Exploration, a Maref Group portfolio company, into its wholly owned subsidiary Argentina Metals S.A.S., following approval by the Mendoza Mining Ministry.
According to Argentina Metals, final consideration comprised US$812,000 (C$1.138 million) in cash plus 1,050,000 common shares, which are subject to a four‑month‑and‑one‑day hold and contractual trading restrictions until March 27, 2027. Following this issuance, the company has 73,073,343 common shares outstanding and now controls approximately 146,700 hectares across 26 copper exploration projects in Mendoza, all 100%-owned with no private royalties, NSRs, back‑in rights or earn‑in obligations apart from provincial royalties. Management plans an inaugural field season in Q4, focusing on systematic exploration and target prioritization.
Positive
- 100% interest in 19,151 ha Mendoza properties acquired and registered
- US$812,000 cash + 1,050,000 shares finalize Andean portfolio acquisition
- Land package 146,700 ha across 26 100%-owned copper projects in Mendoza
- Portfolio has no private royalties, NSRs, back-in or earn-in obligations
Negative
- 1,050,000 new shares issued, increasing total to 73,073,343 and diluting existing holders
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Argentina Metals Corp. (TSXV: VLLC) (OTCQB: VLLCF) (FSE: VA5) ("VLLC" or the "Company") is pleased to announce that, further to the Company's press release dated April 2, 2026, the Dirección de Minería de la Provincia de Mendoza (the "Mendoza Mining Ministry") has approved the transfer and registration of
"The completion of the Andean transaction marks an important milestone for the Company, adding to our district-scale land position across Mendoza Province," said Raymond D. Harari, CEO and Director of VLLC. "We are well-positioned to begin the next phase of the Company's growth as we prepare for our inaugural field season during the Argentine summer, commencing in Q4. Our initial exploration program will focus on systematically advancing and prioritizing targets across our portfolio, and we look forward to providing shareholders with further details on the proposed work program in the coming months."
In accordance with the terms of the Transaction, VLLC has made the final payment to the vendors of the Properties in the amount of US
As of the date hereof, including the issuance of the Vendors' Shares, VLLC has 73,073,343 common shares issued and outstanding.
About Argentina Metals Corp.
Argentina Metals Corp. (TSXV: VLLC) (OTCQB: VLLCF) (FSE: VA5) is a Canadian copper exploration company focused on Mendoza Province, Argentina. The Company holds approximately 146,700 hectares across 26 projects, all
For further information, please contact:
Raymond D. Harari
Chief Executive Officer
e: harari@argentinametals.com
t: +507-6675-2221
www.argentinametals.com
Cautionary Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding: the Company's exploration plans and activities on its properties; the anticipated benefits of the Transaction; and the Company's business objectives and growth strategy. Forward-looking information is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied, including risks relating to obtaining regulatory approvals, exploration results and general capital markets conditions. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update forward-looking information except as required by applicable law. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's disclosure filings with Canadian securities regulators, which are posted on the Company's profile at www.sedarplus.ca.
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307597