Maverick Minerals Australia completes $2.7M acquisition

• Maverick Minerals Australia has completed the acquisition of a 75% interest in the Viper Project tenements from Caprice Resources (ASX:CRS).
• The company's share price remained steady following the announcement, holding its market capitalisation at approximately $14.3 million.
• This strategic transaction provides Maverick Minerals with a commanding land position prospective for niobium and rare earth elements.

Maverick Minerals Australia (ASX:M96) has completed the acquisition of a 75% interest in the Viper Project for $2.7 million.

The transaction follows a binding agreement from April, which required the company to complete a $4 million capital raise.

The deal includes eight granted tenements and seven tenement applications in Western Australia.

The company stated that the assets cover 2,000km2 prospective for niobium and rare earth element deposits.

Following the announcement, the Maverick Minerals Australia share price was unchanged at $0.009.

The exploration business previously operated under the name Corella Resources before completing a corporate rebranding in June.

Maverick funded the transaction using proceeds from a recently completed follow-on equity offering that raised $5 million.