Kenorland raises $9M from sale of Li-FT Power shares

Dec 14, 2022

2022-12-14 09:55 ET – News Release

Mr. Zach Flood reports

KENORLAND RAISES $9,000,000 THROUGH SALE OF MARKETABLE SECURITIES

Kenorland Minerals Ltd. has raised aggregate gross proceeds of $9-million through the sale of 750,000 common shares of Li-FT Power Ltd. The sale was conducted through the Canadian Securities Exchange as a pre-arranged trade. The proceeds from the sale further strengthens Kenorland’s cash position and brings its current cash balance to a total of approximately $19,800,000.

Kenorland continues to hold 1,001,913 Li-FT shares acquired following the exercise by Li-FT of the option granted by the Company to acquire a 100% interest in the Rupert lithium project, located near James Bay Quebec (see press release dated July 28, 2021). Kenorland continues to provide operator services to Li-FT on the Rupert project and was granted a 2% net smelter returns royalty on the Rupert Project.

The Company has no current plans to dispose of its remaining Li-FT shares and will continue to monitor its investments. Kenorland holds a portfolio of securities in both public and private issuers through the sale or option of mineral properties.

About Kenorland Minerals

Kenorland Minerals Ltd. (TSXV: KLD) is a mineral exploration Company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada. Kenorland’s focus is early to advanced stage exploration in North America. The Company currently holds four projects in Quebec where work is being completed under joint venture and earn-in agreement from third parties. The Frotet Project and Chicobi Project are held under joint venture with Sumitomo, the Chebistuan Project is optioned to Newmont Corporation and the Hunter Project is held under option to Centerra Gold Inc. In Ontario, the Company holds the South Uchi Project under an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corporation. In Alaska, the Company holds the advanced stage Tanacross porphyry Cu-Au-Mo project, optioned to Antofagasta, as well as a 70% interest in the Healy Project, held under joint venture with Newmont Corporation.

We seek Safe Harbor.

https://www.kenorlandminerals.com/