Tivan (ASX:TVN) has finalized its contractual arrangements with King River Resources (ASX:KRR) for the acquisition of the Speewah Project in Western Australia, according to a Tuesday filing with the Australian bourse.

On Monday, Tivan's 30-day volume-weighted average price (VWAP) surpassed AU$0.10, ensuring no additional shares will be issued to King River Resources (KRR) under a restructured agreement.

With all payments completed, Tivan and KRR signed a Deed of Release, lifting KRR's security over the project.

Shares of Tivan rose 3% in recent Tuesday trade.