CuFe Ltd (ASX:CUF) enters into an agreement to acquire Tenement E15/1495 from an unrelated private vendor for AUD 0.6 million on May 9, 2023. Under the terms of the sale and purchase agreement, CuFe acquires E15/1495 with the consideration payable being AUD 0.3 million cash, an AUD 0.3 million milestone payment payable in the event production occurs in the future from the tenure, and a 1% gross sales royalty. The vendor retains rights to gemstones on the Tenement.

There are no conditions precedent to transaction and completion is to occur within 20 business days.