04:54 PM EDT, 07/22/2024 (MT Newswires) -- Targa Exploration ( TRGEF ) on Monday said it completed the acquisition of the Opinaca gold and lithium project in Quebec and the Superior project in Manitoba as it issued the final shares due to Kenorland Minerals ( KLDCF ) to complete its commitment for the projects.

The company has issued 948,925 shares to Kenorland under a 2022 option agreement to take a 100% interest in the two properties, though Kenorland will retain a 3% net smelter returns royalty on the sites.

"This last issuance of shares to Kenorland represents our final obligation for the 100% acquisition of our Opinaca gold and lithium project. Our focus for this year remains on Opinaca, where we are eagerly awaiting results of the recently completed field program," chief executive Cameron Tymstra said in a release.

Along with the Kenorland shares, Targa also issued 4.1-million shares to a group of vendors with a deemed price of $0.0921612 for the acquisition of five mineral properties in Quebec and Ontario.