Kenorland Receives Notice of Exercise of Top-up Right from Sumitomo and Centerra

Executive Summary

• Kenorland Minerals announced that Sumitomo Metal Mining Canada Ltd. and Centerra Gold Inc. will each exercise their “top‑up” rights under existing Investor Rights Agreements, issuing a total of 26,967 common shares to retain their respective ownership stakes.
• The shares are being issued at $2.068 per share for aggregate gross proceeds of $55,767.76 (13,618 shares to Sumitomo and 13,349 shares to Centerra).
• The transaction is subject to TSX Venture Exchange approval and is documented in the Sumitomo IRA, Centerra IRA, and a three‑way acknowledgement agreement filed on SEDAR+.

Key Details

• Total Shares Issued: 26,967 common shares.
• Issue Price: $2.068 per share.
• Aggregate Consideration: $55,767.76.
• Allocation:
• Sumitomo Metal Mining Canada Ltd. – 13,618 shares (maintaining a 10.1% interest).
• Centerra Gold Inc. – 13,349 shares (maintaining a 9.9% interest).
• Purpose: To allow existing investors to retain their proportional ownership interests following prior share issuances by Kenorland Minerals.
• Regulatory Condition: Issuance pending approval of the TSX Venture Exchange.
• Documentation: Copies of the Sumitomo IRA, Centerra IRA, and a three‑way acknowledgement agreement are available on the Company’s SEDAR+ profile.

Notable Quotes

(No direct quotes were provided in the release.)