The move comes after the companies have entered into a binding letter of intent on 16 June 2014.
The mineral licenses for the uranium deposits are held by European Uranium’s wholly-owned subsidiaries, Ludovika Energy and Ludovika Mining.
Under the deal, Forte will pay $475,000 to European Uranium Resources, and the companies have agreed to extend the payment timeline to 14 August 2014.
The agreement calls Forte to fund at least $350,000 a year on the Ludovika entities over the next ten years with the first year’s expenditure being an obligation.
