Latin Resources is selling 100% of its subsidiary Lotus Minerals Limited to Maverick Minerals.

Lotus Minerals holds the Lachlan Fold Belt Project, which includes multiple projects in New South Wales.

After its acquisition by Maverick, which aims to be listed on the Australian Stock Exchange, the subsidiary will focus on lithium, copper and base metals in New South Wales, Western Australia, and Canada.

This transaction will allow Latin Resources to concentrate on its primary projects in Brazil and streamline operations while maintaining an interest in Maverick through shareholdership and board representation.