Viking Mines (ASX:VKA) is set to attain full ownership of the Canegrass project following a deal to acquire the project's owner, Flinders Canegrass, a subsidiary of Red Hawk Mining (ASX:RHK), according to a Thursday filing with the Australian bourse.
Viking Mines has moved to 49% ownership of the project following a stage two farm-in deal and the acquisition of the subsidiary will secure the remaining 51% stake at the project in exchange for AU$175,000 in cash, 33,333,333 in shares, and 15 million options exercisable at AU$0.02 each.
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