Uvre (ASX:UVA) completed the acquisition of Minerals Exploration (MEL), the parent company of New Zealand Gold explorer, according to a Monday Australian bourse filing.

The company has today issued 75 million fully paid ordinary shares to the vendors of MEL at a deemed issue price of AU$0.08 per share as part of the consideration, subject to a 12-month voluntary escrow period during which time the consideration Shares will be subject to a holding lock.

The company said it is ramping up exploration programs, following initial rock chip assays from the brownfields Waitekauri Gold Project and Oturehua Gold Project of up to 18.4 grams per tonne gold with visible gold.