Continental Precious Minerals Inc. on Jan. 27 said it has transferred 11 mineral claims comprising the Viken U3O8 property in Sweden to EU Energy Corp. for C$300,000.
Continental will be entitled to a 2% net smelter royalty on the property, which EU Energy can buyback for C$600,000.
If EU Energy fails to start commercial production from the property within five years, the NSR will be reduced to 0.5% and can be purchased for C$150,000.
In addition, Continental is weighing its options regarding the delisting review initiated by the Toronto Stock Exchange in October 2016, as its shares failed to meet continued listing requirements.