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Argentina Metals Closes the Acquisition of El Salado and La Quimera Properties in Argentina

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Argentina Metals (VLLC.V) on Tuesday said it received the approval of the Direccion de Mineria de la Provincia de Mendoza (Mendoza Mining Ministry) for the transfer and registration of the El Salado and La Quimera properties, comprising 9,980 hectares in Mendoza, Argentina.

The company made the final payment of C$195,000 in cash and issued 450,000 shares to the vendors of the properties.

"This approval completes the acquisition process and secures our 100% interest in these highly prospective copper exploration assets. The Properties add significant scale to our land position in Mendoza and strengthen our presence in one of Argentina's most important emerging copper regions," chief executive Raymond Harari said in a release.

Shares of the company were last seen up C$0.01, or 3.3%, to C$0.315 on the TSX Venture Exchange.

Price: $0.32, Change: $+0.01, Percent Change: +3.28%

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