Kenorland Minerals Ltd (TSX-V:KLD) boosted its cash position to almost C$20 million through the sale of its shares in Li-FT Power Ltd.
The firm announced it has raised nearly $9 million via the sale of 750,000 common shares of Li-FT Power as a pre-arranged trade.
Proceeds from the sale strengthens Kenorland's cash position to a total of around $19.8 million.
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Kenorland still holds 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 in Quebec.
The firm continues to provide operator services to Li-FT on the Rupert project and was granted a 2% net smelter returns royalty on the project.
In a statement, Vancouver-based Kenorland said it has no current plans to dispose of its remaining Li-FT shares and will continue to monitor its investments.
In addition to its mineral properties, Kenorland holds a portfolio of securities in both public and private issuers through the sale or option of mineral properties.
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