Kenorland Minerals (TSE:KLD) has released an update.
Kenorland Minerals Ltd. has signed a definitive agreement to sell its South Thompson Nickel Project to Evolution Nickel Corporation, granting the buyer 100% ownership. In exchange, Kenorland will receive 26 million common shares of Evolution, which represents a 50% equity ownership before financing, and will retain a 2% net smelter return royalty on the project. The deal also includes Kenorland’s continued involvement in the project’s operation and the right to appoint a director to Evolution’s board.
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