Kenorland to issue shares to Sumitomo and Centerra

Executive Summary

• Kenorland Minerals Ltd. received notices from Sumitomo Metal Mining Canada Ltd. and Centerra Gold Inc. to exercise their “top‑up” rights under existing Investor Rights Agreements.
• The company will issue a total of 51,805 common shares at $2.028 per share, raising approximately $105,060.54 in gross proceeds.
• The issuance will allow Sumitomo to maintain its 10.1 % stake (26,162 shares) and Centerra to maintain its 9.9 % stake (25,643 shares).

Key Details

• Investor Rights Agreements:
• Sumitomo IRA dated November 5 2021.
• Centerra IRA dated May 28 2024.
• Shares Issued: 51,805 common shares total.
• Pricing: $2.028 per share (aggregate consideration of $105,060.54).
• Allocation:
• Sumitomo Metal Mining Canada Ltd.: 26,162 shares → retains a 10.1 % ownership interest.
• Centerra Gold Inc.: 25,643 shares → retains a 9.9 % ownership interest.
• Regulatory Approval: Issuance is subject to approval by the TSX Venture Exchange.
• Documentation: Copies of both IRAs and a three‑way acknowledgement agreement are filed on Kenorland’s SEDAR+ profile.

Notable Quotes

(No executive quotes were provided in the release.)