Kenorland Receives Notice of Exercise of Top- Up Right from Sumitomo and Centerra
Kenorland Receives Notice of Exercise of Top-
Up Right from Sumitomo and Centerra
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) -
Kenorland Minerals Ltd.
(TSXV:
KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("
Kenorland
" or the "
Company
") announces that, further to the
investor rights agreement dated November 3, 2021 (the "
Sumitomo IRA
") between the Company and
Sumitomo Metal Mining Canada Ltd. ("
Sumitomo
") and the investor rights agreement dated May 28,
2024 (the "
Centerra IRA
") between the Company and Centerra Gold Inc. ("
Centerra
"), each of
Sumitomo and Centerra have issued to the Company notice of their respective intentions to exercise
their 'top-up right' as it relates to certain share issuances completed by the Company and to retain their
interests in the Company.
An aggregate of 314,392 common shares of the Company will be issued at a price of $2.136 per share
for aggregate consideration of $671,541.31 in accordance with the Sumitomo IRA and Centerra IRA,
subject to the approval of the TSX Venture Exchange, of which 158,768 common shares will be issued
to Sumitomo in order to retain its 10.1% interest in the Company and 155,624 common shares will be
issued to Centerra in order to retain its 9.9% interest in the Company. A copy of each the Sumitomo IRA
and the Centerra IRA, as well as a three-way acknowledgement agreement between the Company,
Sumitomo and Centerra governing procedural matters relative to the exercise of equity participation
rights under the Sumitomo IRA and Centerra IRA is available on the Company's SEDAR+ profile.
About Kenorland Minerals
Kenorland Minerals Ltd. (TSXV: KLD) is a well-financed mineral exploration company focused on project
generation and early-stage exploration in North America. Kenorland's exploration strategy is to advance
greenfields projects through systematic, property-wide, phased exploration surveys financed primarily
through exploration partnerships including option to joint venture agreements. Kenorland holds a 4% net
smelter return royalty on the Frotet Project in Quebec which is owned by Sumitomo Metal Mining Canada
Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and
Sumitomo Metal Mining Canada Ltd. in 2020. Kenorland is based in Vancouver, British Columbia,
Canada.
Further information can be found on the Company's website
www.kenorlandminerals.com
.
On behalf of the Board of Directors,
Zach Flood
President, CEO & Director
For further information, please contact:
Tel +1 604 568 6005
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-looking
statements can be identified by the use of terminology such as "plans", "expects", "estimates",
"intends", "anticipates", "believes" or variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-
looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause
actual results, performance, prospects and opportunities to differ materially from those expressed or
implied by such forward-looking statements. Although the Company believes that the assumptions
and factors used in preparing these forward-looking statements are reasonable based upon the
information currently available to management as of the date hereof, actual results and developments
may differ materially from those contemplated by these statements. Readers are therefore cautioned
not to place undue reliance on these statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the disclosed times frames or at all.
Except where required by applicable law, the Company disclaims any intention or obligation to update
or revise any forward-looking statement, whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/301138