Tertiary Minerals plc entered into a non-binding heads of terms to acquire land and old mine workings on Lassedalen Fluorspar Project in Norway from Norsk Hydro ASA (OB:NHY) for a nominal consideration of NOK 1.

Tertiary Minerals plc (AIM:TYM) entered into a non-binding heads of terms to acquire land and old mine workings on Lassedalen Fluorspar Project in Norway from Norsk Hydro ASA (OB:NHY) for a nominal consideration of NOK 1 on December 7, 2016. The purchase is subject to successful due diligence and 12-month period has been granted for Tertiary Minerals to complete due diligence. Following successful due diligence, Tertiary Minerals and Norsk Hydro shall agree and finalize a purchase agreement within 2 months.

Ewan Leggat and Laura Harrison of SP Angel Corporate Finance LLP acted as financial advisors and Elliot Hance of Beaufort Securities Ltd acted as broker for Tertiary Minerals plc.