Arena Minerals Inc. (TSXV:AN) entered into a binding letter of intent to acquire Sal De La Puna Lithium Brine Project in Argentina from Centaur Resources Limited on March 29, 2021. Arena Minerals Inc. (TSXV:AN) entered into a binding share purchase agreement to acquire Sal De La Puna Lithium Brine Project in Argentina from Centaur Resources Limited for $18 million on May 25, 2021. Under the letter, the consideration comprises of approximately 49.3 million common shares of Arena and approximately 18.4 share purchase warrants each entitling the holder to acquire one common share of Arena at a price of $0.16 per common share for a period of 24 months following closing, and a cash payments of $1.98 million. Arena Minerals announces a non-brokered private placement of subscription receipts at a price of $0.14 per Subscription Receipt for gross proceeds of up to $10 million. The proceeds of the Offering will be applied to the acquisition of the Sal de la Puna lithium brine project from Centaur Resources Pty Ltd. The heads of agreement provide that the remaining aggregate purchase price for the acquisition is approximately $14.4 million. Centaur has made initial payments as per the heads of agreement for a total of $3.5 million since the signing of the heads of agreement in September 2020. As of May 25, 2021, according to the binding share purchase agreement, we have a remaining aggregate purchase price of $14.5. The aggregate remaining purchase price takes in consideration a total purchase price of approximately AUD 23.3 million (approximately $18 million) and discounting $3.5 million paid to Centaur by LITH-ARG Acquisition LLC. Arena has agreed to advance Centaur a loan of $1 million secured by a first ranking charge over Centaur's assets, within 2 business days after the date of the agreement to assist Centaur in delivering the Project on a debt free basis. The Loan is to be repaid at closing by being credited against the Price. At closing, the loan and the $3.5 million deposit, which was previously paid to Centaur by LITH-ARG will be credited against the total aggregate purchase price. On June 10, 2021, Ganfeng is exercising project participation right to acquire a 35% interest in the Sal de la Puna lithium brine project. Ganfeng will acquire 35% of SDLP by funding $7.789 million of the acquisition cost of the Sal de la Puna Project acquisition. The transactions contemplated by the heads of agreement are subject among other things to the execution of a definitive agreement between Arena and Centaur which will replace the heads of agreement which agreement must be completed by June 24, 2021. As part of the discussions involving the definitive agreement, Centaur and Arena are considering structuring alternatives which would reduce the cash outlay by Arena required to complete the transaction. The transaction is subject to receipt of applicable regulatory approvals, including the approval of the TSX Venture Exchange. As of May 25, 2021, the transaction under the agreement is subject to receipt of applicable regulatory approvals, including the approval of the TSX Venture Exchange and subject to, among other things, the shareholders of Centaur Resources Limited voting (by 51% majority) in favour of a resolution to approve the transaction, as well as Arena being satisfied with its ongoing due diligence investigations. As of June 28, 2021, the transaction is approved by shareholders of Centaur Resources Limited. As of July 12, 2021 the proceeds of the private placement will be applied by Arena Minerals to the acquisition of the Sal de la Puna lithium Brine project in Argentina. Closing of the acquisition of is expected to take place before July 20, 2021.