Ensorcia to Acquire Argentina Wildcats to Expand Lithium Holdings

Ensorcia Group Holdings, LLC announced it has entered a binding letter of intent to acquire Argentina Wildcats, LLC. The company plans to purchase 100% of Argentina Wildcats' membership interests for cash, with additional contingent consideration.

The acquisition is set to expand Ensorcia's lithium holdings in Argentina by approximately 50,000 hectares, bringing its total property count to roughly 67,000 hectares. The decision followed drilling, flow testing, and brine sample evaluations, including tests conducted by International Battery Metals Ltd. (IBAT).

The acquired former LEXI property will be integrated into Ensorcia's Katal 1 development program. This program utilizes International Battery Metals' direct lithium extraction (DLE) technology, for which Ensorcia holds an exclusive license in Argentina.

The deal is part of Ensorcia's strategy to grow its resource base in South America. The company aims to advance the Katal 1 project towards commercial production efficiently.