- Kenorland Minerals (KLDCF, Financial) acquires 100% interest in 31,052 hectares of mineral claims next to the Atlantic Project.
- Shares issued at $1.473 each, with a 0.5% net smelter return royalty granted.
- Statutory hold period for newly issued shares expires on October 11, 2025.
Kenorland Minerals Ltd. (KLDCF) has successfully completed the acquisition of a 100% interest in 31,052 hectares of mineral claims adjacent to its Atlantic Project in New Brunswick. The transaction was formalized through a purchase and sale agreement with a private British Columbia company dated May 26, 2025.
As part of the agreement, Kenorland Minerals issued 118,425 common shares at a price of $1.473 per share. Additionally, a 0.5% net smelter return royalty was granted on the claims. The shares are subject to a statutory hold period, which will expire on October 11, 2025, in accordance with securities legislation and TSXV policies.
This strategic acquisition enhances Kenorland’s property portfolio, expanding the footprint of its Atlantic Project. The Atlantic Project covers a total of 150,831 hectares in a highly prospective region known for hosting various gold and polymetallic deposits, with potential for significant mineral discoveries.
Furthermore, Kenorland received notices from Sumitomo Metal Mining Canada Ltd. and Centerra Gold Inc. regarding the exercise of their 'top-up right' to maintain their ownership stakes in the company. An additional aggregate of 257,737 shares will be issued, subject to TSX Venture Exchange approval, to fulfill these obligations.
