Star Alliance International Corp. (OTCPK:STAL) signed letter of intent to acquire 51% stake in Compania Minera Metalurgica Centro Americana S.A. from Juan Lemus on December 2, 2021. Star Alliance International Corp. (OTCPK:STAL) signed definitive agreement to acquire 51% stake in Compania Minera Metalurgica Centro Americana S.A. from Juan Lemus for $9.8 million on December 15, 2021. As per the transaction, the consideration will be paid $1 million in cash and issued 5 million restricted stock of Star Alliance. In addition, $7.5 million in working capital will be paid to expand mining operations in Commsa's mining project. The cash and working capital for Commsa's mining project will be funded through debt and/or equity financing arrangements. The transaction is subject to approval by the Board of Directors and the shareholders of Star Alliance. The transaction is expected to complete effective January 1, 2022.

Star Alliance International Corp. (OTCPK:STAL) completed the acquisition of 51% stake in Compania Minera Metalurgica Centro Americana S.A. from Juan Lemus on January 2, 2022.