Alset EnergyCorp. said July 13 that it has executed a with to acquire Mexicanlithium, potassium and boron brine salar assets.
Following due diligence, the company has agreed to acquirefour large concessions containing seven salars which include Caliguey, LaDoncella, Colorada, La Salada, Santa Clara, Saldivar and Chapala.
These salars were selected due to their attractive lithium,potassium and boron values from limited shallow sampling down to a depth offive meters.
Alset will acquire these assets through its wholly ownedMexican subsidiary, Grupo MineroAlset S.A. de C.V., by paying the outstanding mining taxes on thefour concessions amounting to about US$112,000.
The company will also pay US$210,000 to the optionor instaged payments over a five-year period.
The optionor will retain a 2.25% net smelter returnsroyalty, of which 1 percentage point can be purchased by the company forUS$250,000.
Alset plans to undertake an aggressive exploration program,while permitting for drilling will commence immediately.