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Australia-based resource development company Cove Resources has announced that it has executed a deed of variation to the share purchase agreement with gold-focused company Endomines AB, which provides for a reduction in the total consideration for Coves acquisition of the Koivu Titanium Project in Finland.

Cove Resources and Endomines AB said that the agreed terms will assist Cove with the fast track to production of the Koivu Titanium Project, in Finland.

Further, Cove and Endomines have executed a deed of variation to the share purchase agreement for the acquisition of Kalvinit Oy, which owns the Koivu project.

The deed of variation to the share purchase agreement will allow for a reduction in the total purchase price payable by Cove to Endomines conditional upon completing the acquisition in full, on the closing date.

Cove advised that should it elect to pay to Endomines the entire outstanding purchase price at closing, the amount payable will be reduced from 2.850 million to 2.550 million.

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