The stake comprised of 59.06 million shares is part of the consideration for the sale of Indee Gold Pty Ltd to De Grey.
It represents $3 million divided by 90% of the 20-day VWAP for De Grey shares up to 21 August 2019.
De Grey acquired Indee Gold for $15 million
De Grey completed the final component of the acquisition last week giving it 100% control of what it believes to be one of the best underexplored new gold provinces in Australia.
Drilling programs that commenced in early August are now ramping up with three rigs actively operating on-site at Toweranna, Withnell, Mallina and on new regional targets.
All results remain pending and strong news flow is expected over the coming months.
De Grey aims to increase its 1.7 million ounce gold resource base in the Pilbara region up to 3.0 million ounces.