On January 16, 2024, Kenorland Minerals Ltd. announced it entered into a definitive agreement with Sumitomo Metal Mining Canada Ltd. to exchange 20 percent participating interest in the Frotet Project, situated in Quebec, for a 4 percent net smelter return royalty on all minerals extracted from the Project. This joint venture agreement will result in Sumitomo consolidating 100% ownership of the Project and termination of the agreement.
Kenorland Minerals Ltd. operates as a Canadian-based mineral exploration company with a focus early-stage explorations.
Sumitomo Metal Mining Canada Ltd. operates as a wholly owned subsidiary of Sumitomo Metal Mining Co., Ltd.
Osler, Hoskin & Harcourt LLP advised Kenorland Minerals Ltd. with a team consisting of Alan Hutchison and Patrick Sullivan (Corporate); Constantine Troulis, Samuel Julien, and Elena Nanocchio (Financial Services).