ASX-listed Adriatic Metals has inked a binding letter of agreement with TSX-V listed Tethyan Resource Corporation that will see Adriatic consolidate its position as a leading Balkan polymetallic explorer and developer.
Under the agreement, each Tethyan shareholder will receive 0.166 Adriatic shares for each of their Tethyan share held, resulting in Tethyan shareholdings holding a 6.9% interest in Adriatic.