Cyprium Metals (ASX:CYM) has completed the sale of its Meekatharra Project in Western Australia to Solstice Minerals (ASX:SLS), according to a Thursday filing with the Australian bourse.
Under the agreement, Cyprium received AU$1 million in immediate cash consideration and 3 million fully paid ordinary shares in Solstice, subject to a holding lock of six to 12 months, the filing said.
Additionally, up to 3 million more shares may be issued if Solstice reports a mineral resource exceeding 250,000 tonnes of contained copper from the project area within the next four years, the filing added.
Shares of the company rose past 5%, while shares of Solstice Minerals rose past 2% at market close.
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