NewPeak Metals has sold its Swedish mineral permits, held by its Finnish subsidiary NewPeak Sweden, to the Canadian private company 1459992 BC, operated by Emma Fairhurst.
The transaction aligns with NewPeak's strategy to rejuvenate and optimise its asset portfolio.
The sale agreement is expected to close by Aug. 31.
Upon execution of the transaction documents, NewPeak will receive CAD$250,000 ($274,975) in shares from the Canadian-listed entity.
A milestone payment of CAD$750,000 ($824,925) in cash or shares will be made upon reporting a JORC inferred resource of at least 3 million tonnes at 0.3% WO3Eq.
Pending standard transaction arrangements such as due diligence and requisite approvals, NewPeak is also in the process of managing its Argentine Gold assets.