The royalty has a one-time pre-production purchase option for C$20,000,000 ($18,736,200).
Since 2009, East Resource and CanAlaska have engaged in ongoing activities in the Athabasca region in Saskatchewan.
The company entered into a binding agreement for the transaction in April.
CanAlaska said it will assist East Resource with the exploration of the Kasmere South property. Historical drilling conducted in the 1970s intersected uranium mineralization and these zones are categorised as priority targets for new exploration.
The company retains the Kasmere North project as well as its holding in the NW Manitoba project, and eleven other uranium projects in the Athabasca Basin.
The proceeds from the deal will allow CanAlaska to focus on exploration of its core Japanese and Korean joint ventures at West MacArthur and Cree East, within the Athabasca basin.
