Kenorland Completes Top-Up Right from Sumitomo and Centerra
Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has completed the 'top-up right' exercise with Sumitomo Metal Mining Canada and Centerra Gold, allowing them to maintain their respective 10.1% and 9.9% ownership interests in the company. The transaction involved issuing 63,453 common shares at $1.0492 per share, totaling $66,574.89. These shares are subject to a statutory hold period until April 21, 2025. As Sumitomo owns over 10% of Kenorland's shares, the transaction qualified as a 'related party transaction' under MI 61-101, though exemptions from formal valuation and minority shareholder approval were applied as the value was below 25% of the company's market capitalization.
Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) ha completato l'esercizio del 'diritto di aumento' con Sumitomo Metal Mining Canada e Centerra Gold, consentendo loro di mantenere rispettivamente il 10,1% e il 9,9% delle partecipazioni nell'azienda. La transazione ha comportato l'emissione di 63.453 azioni comuni a $1,0492 per azione, per un totale di $66.574,89. Queste azioni sono soggette a un periodo di blocco legale fino al 21 aprile 2025. Poiché Sumitomo possiede più del 10% delle azioni di Kenorland, la transazione è stata considerata una 'transazione con parti correlate' secondo la MI 61-101, sebbene siano state applicate esenzioni dalla valutazione formale e dall'approvazione degli azionisti di minoranza, poiché il valore era inferiore al 25% della capitalizzazione di mercato dell'azienda.
Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) ha completado el ejercicio del 'derecho de aumento' con Sumitomo Metal Mining Canada y Centerra Gold, permitiéndoles mantener respectivos intereses de propiedad del 10.1% y 9.9% en la compañía. La transacción consistió en la emisión de 63,453 acciones ordinarias a $1.0492 por acción, totalizando $66,574.89. Estas acciones están sujetas a un periodo de retención legal hasta el 21 de abril de 2025. Dado que Sumitomo posee más del 10% de las acciones de Kenorland, la transacción se clasificó como una 'transacción entre partes relacionadas' bajo MI 61-101, aunque se aplicaron excepciones a la valoración formal y a la aprobación de los accionistas minoritarios, ya que el valor estaba por debajo del 25% de la capitalización de mercado de la compañía.
Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF)는 Sumitomo Metal Mining Canada와 Centerra Gold와 함께 '증자 권리' 행사를 완료하여 각각 10.1% 및 9.9%의 지분을 유지할 수 있게 되었습니다. 이 거래는 주당 $1.0492에 63,453주의 보통주를 발행하는 것으로, 총액은 $66,574.89입니다. 이 주식은 2025년 4월 21일까지 법적 보유 기간에 있습니다. Sumitomo가 Kenorland의 주식의 10% 이상을 소유하고 있기 때문에 이 거래는 MI 61-101에 따른 '관련 당사자 거래'로 간주되었으며, 회사의 시장 자본금의 25% 이하의 가치로 인해 공식 평가 및 소수 주주 승인의 면제가 적용되었습니다.
Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) a finalisé l'exercice du 'droit de surallocation' avec Sumitomo Metal Mining Canada et Centerra Gold, leur permettant de maintenir leurs participations respectives de 10,1% et 9,9% dans la société. La transaction a consisté en l'émission de 63 453 actions ordinaires à 1,0492 $ par action, soit un total de 66 574,89 $. Ces actions sont soumises à une période de gel légale jusqu'au 21 avril 2025. Étant donné que Sumitomo détient plus de 10 % des actions de Kenorland, la transaction a été qualifiée de 'transaction entre parties liées' selon MI 61-101, bien que des exemptions aient été appliquées pour l'évaluation formelle et l'approbation des actionnaires minoritaires, car la valeur était inférieure à 25 % de la capitalisation boursière de la société.
Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) hat die Ausübung des 'Erhöhungsrechts' mit Sumitomo Metal Mining Canada und Centerra Gold abgeschlossen, was ihnen ermöglicht, ihre jeweiligen Eigentumsanteile von 10,1% und 9,9% an dem Unternehmen aufrechtzuerhalten. Die Transaktion umfasste die Ausgabe von 63.453 Stammaktien zu einem Preis von 1,0492 $ pro Aktie, insgesamt also 66.574,89 $. Diese Aktien unterliegen bis zum 21. April 2025 einer gesetzlichen Haltefrist. Da Sumitomo mehr als 10% der Aktien von Kenorland besitzt, wurde die Transaktion als 'Transaktion mit verbundenen Parteien' gemäß MI 61-101 eingestuft, wobei Ausnahmen von der formellen Bewertung und der Genehmigung der Minderheitsaktionäre Anwendung fanden, da der Wert unter 25% der Marktkapitalisierung des Unternehmens lag.
- Maintained strategic investment relationships with major mining companies Sumitomo and Centerra
- Successful completion of share issuance at $1.0492 per share
- Share dilution through issuance of 63,453 new common shares
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2024) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") announces that, further to its press release dated December 19, 2024, the Company, Sumitomo Metal Mining Canada Ltd. ("Sumitomo") and Centerra Gold Inc. ("Centerra"), have completed the exercise of Sumitomo's and Centerra's 'top-up right' to retain its
An aggregate of 63,453 common shares were issued at a price of
As Sumitomo is the beneficial owner of more than
The Company has relied upon on exemptions from formal valuation and the minority shareholder approval requirements of MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of either transaction does not constitute more than the
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
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:
Alex Muir, CFA
Investor Relations Manager
Tel +1 604 568 6005
info@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-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/234582
FAQ
How many shares did Kenorland Minerals (KLDCF) issue in the December 2024 top-up right exercise?
What is the lock-up period for the new shares issued by Kenorland (KLDCF) in December 2024?
What percentage ownership do Sumitomo and Centerra maintain in Kenorland (KLDCF)?
What was the total value of Kenorland's (KLDCF) December 2024 private placement?
