Arena Minerals Applies for Trading on the OTCQX, Provides Additional Information on Investor Relations Agreements

TORONTO, June 24, 2022 (GLOBE NEWSWIRE) -- Arena Minerals Inc. ("Arena" or the "Company") (TSX-V: AN | OTCQB: AMRZF) a lithium exploration company, has submitted an application to upgrade to trade on the OTCQX Best Market from the OTCQB Venture Market under its existing symbol "AMRZF". The application is subject to final approval from OTC Markets Group. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market is anticipated to provide improved liquidity, an enhanced trading experience for current and potential U.S. investors and expose the Company to a broader market.

Investor Relations Agreements

Further to its news releases of October 15, 2021 and April 11, 2022, the Company provides additional information regarding its engagement of OGIB Corporate Bulletin ("OGIB") and Digitonic Limited ("Digitonic") to provide investor relations services to the Company. 

OGIB is a Vancouver, British Columbia based firm which provides investor relations services to public companies in a variety of industry segments. OGIB's services were provided to the Company through its principal, Keith Schaefer. Pursuant to the October 13, 2021 agreement between the Company and OGIB (the “OGIB Agreement”), OGIB assisted in content preparation and publication of information about the Company for a period of six months. In accordance with the OGIB Agreement, OGIB received CDN$200,000 (plus applicable taxes), which was paid in advance on OGIB's engagement. The contract concluded at the end of its six month term in April, 2022.

Digitonic is based in Glasgow, Scotland. Digitonic provides investor relations services to public companies in a variety of industry segments. Digitonic's services are provided to the Company through Neil Reynolds. Pursuant to an agreement entered into with Digitonic on September 13, 2021 (the "Digitonic Agreement"), Digitonic provided advertising, corporate marketing and investor awareness services, including, but not limited to, content creation management, project management and media distribution. In March, 2022, Digitonic was paid USD$216,000 to provide its services for a period of twelve months ending April 11, 2023.