Business
Kenorland Minerals Receives Notice of Exercise of Top-Up Right from Sumitomo
Vancouver, British Columbia--(Newsfile Corp. - April 21, 2023) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") i
About this update from Kenorland Minerals Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 21, 2023) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) (\"Kenorland\" or the \"Company\") is pleased to announce that, further to the investor rights agreement dated November 5, 2021 (the \"IRA\") between the Company and Sumitomo Metal Mining Canada Ltd. (\"Sumitomo\"), Sumitomo has notified the Company of its intent to exercise its 'top-up right' and retain its 10.1% interest in the Company. An aggregate of 20,006 common shares will be issued for aggregate consideration of $15,520.14 representing 14,289 common shares at a price of $0.7808 per share and an additional 5,617 shares at a price of $0.7768 per share all in accordance with the IRA, subject to the approval of the TSX Venture Exchange. A copy of the IRA is available on the Company's SEDAR profile. About Kenorland Minerals Ltd. Kenorland Minerals Ltd. (TSXV: KLD) is a mineral exploration company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada. Kenorland's focus is early to advanced stage exploration in North America. The Company currently holds five projects in Quebec where work is being completed under joint venture and earn-in agreements from third parties. The Frotet Project and Chicobi Project are held under joint venture with Sumitomo, the O'Sullivan Project is optioned to Sumitomo, the Chebistuan Project is optioned to Newmont Corporation and the Hunter Project is held under option to Centerra Gold Inc. In Alaska, the Company holds the advanced stage Tanacross porphyry Cu-Au-Mo project, optioned to Antofagasta, as well as a 70% interest in the Healy Project, held under joint venture with Newmont Corporation. Kenorland Minerals Ltd. Zach FloodPresident, CEO and DirectorTel: +1 604 363 [email protected] Scott SmitsVice President of ExplorationTel: +1 250 686 [email protected] Further information can be found on the Company's website www.kenorlandminerals.com. Cautionary Statement Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (together, \"forward-looking statements\") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-look...