Kenorland Minerals (TSE:KLD) has released an update.
Kenorland Minerals Ltd. has successfully completed a C$9.86 million private placement, with Centerra Gold Inc. acquiring a 9.9% stake and entering into an investor rights agreement with the company. The funds raised will be used to further exploration activities across Kenorland’s Canadian projects, using the proceeds as ‘Canadian Exploration Expenses’. Notably, Sumitomo Metal Mining Canada Ltd. maintained its 10.1% interest in the company through participation in the offering.
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