Kenorland Minerals Ltd. announced a non-brokered private placement of 6,216,931 national FT shares at a price of CAD 1.12 per national FT Share for the gross proceeds of CAD 6,962,962.72, 1,404,495 Quebec FT shares at a price of CAD 1.424 per Quebec FT share for the gross proceeds of CAD 2,000,000.88 and 694,445 Manitoba FT shares at a price of CAD 1.296 per Manitoba FT share for gross proceeds of CAD 900,000.72, for total gross proceeds of CAD 9,862,964.32 on May 21, 2024. The offering is expected to close on or about May 28, 2024, subject to certain conditions, including the approval of the TSX Venture Exchange. All FT shares issued in connection with the offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities legislation.

The transaction will include participation from new investor Centerra Gold Inc. which will acquire approximately 9.9%of the issued and outstanding common shares of the company.