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Panthera Signs Letter of Intent to Acquire the Laguna Caro Lithium Property
Panthera Signs Letter of Intent to Acquire the Laguna Caro Lithium Property
About this update from Argentina Lithium & Energy Corp.
[{"type":"text","content":"\nPanthera Signs Letter of Intent to Acquire the Laguna Caro Lithium Property\n\n\n Dec. 23, 2009 (TheNewswire.ca) -- Panthera Exploration Inc. (the \"Company\")(PNX-TSX.V; PNXLF-OTC; OAY-Frankfurt) is pleased to announce that it has executed a binding Letter of Intent (LOI) to acquire the Salar de la Laguna Caro property in the western part of Salta Province, Argentina. A payment of US$10,000 was made on execution of the LOI.The property consists of two exploration concessions totaling 3000 ha covering a significant portion of the Salar de la Laguna Caro which Panthera believes has potential to host a lithium bearing, saline brine deposit.Terms of the LOI provide for an initial 60 day standstill period, during which the Company will conduct a due diligence review of the project. If satisfactory, the Company may elect to negotiate and execute a definitive Option to Purchase Agreement to acquire a 100% interest in the property by making payments comprised of: US$50,000 on signing; US$90,000 after 6 months; and further escalating payments over a 30 month period for an aggregate US$900,000. The vendor will retain a 1% sales royalty which can be purchased by the Company at any time for US$1.0 million.ON BEHALF OF THE BOARD\"Bruce Winfield\"__________________________________Bruce Winfield, President & CEOFor further information please contact, Bruce Winfield at 1-800-901-0058 or 604-687-1828, or fax 604-687-1858, or by email [email protected], or visit the Company's web site at http://www.pantheraexploration.com.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 the accuracy of this release. 2009Copyright (c) 2009 Thenewswire.ca - All rights reserved.\n\n\n\n","length":2229,"tagName":"div"}]