Gold and base metals explorer Arc Exploration has moved to acquire privately-held explorer Cyprium Australia, which has an option to earn an 80% interest in the Cue copper project, in Western Australia.
Under the terms of the agreement Arc will acquire all of the issued capital of Cyprium in exchange for 5.75-million Arc shares, at an issue price of 20c each, with the consideration shares to be subject to a 24-month voluntary escrow.