Kermode Resources Ltd V.KLM

Alternate Symbol(s): KMDRF

Metals & Mining Industrial Metals & Minerals

Kermode Resources Ltd. is a Canada-based junior mining company. The Company’s main business is the acquisition, exploration and development of natural resource properties. Its exploration properties include Lucky Strike, Star of the West, Caycuse Copper, Loup Creek, and Santana Mines (LOI). The Lucky Strike property is located in Nitinat, British Columbia and covers an area of approximately 3005 hectares. The Star of the West property is located in Port Alberni, British Columbia and covers an area of 3427 hectares. Its Caycuse Copper property is located in Caycuse, British Columbia and covers an area of 1532 hectares. The Loup Creek property is located 30 kilometers (kms) from Lake Cowichan and is accessible through the Gordon River Main Logging Road. The Santana Mines is located at Quadra Island, British Columbia. The Company also has an option agreement to acquire three properties, namely 911 Knockout, Eastgate BC and Slesse Creek.

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Kermode Resources Ltd

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Post by mrsgoldmineron Jun 28, 2023 12:53pm

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Post# 35518783

Kermode issues 2.27M shares to settle $64,855 debt

2023-06-28 12:44 ET - News Release

Mr. Peter Bell reports

KERMODE RESOURCES SETTLES $64,855.69 IN DEBT FOR SHARES

Kermode Resources Ltd. has received exchange approval for the shares-for-debt transaction previously announced June 8, 2023. All shares issued pursuant to the debt settlement will be subject to resale restrictions under applicable securities legislation and the rules of the TSX Venture Exchange.

Kermode settles $64,855.69 of debt through the issuance of common shares of Kermode. The company issues 1,812,691 shares to an arm's-length party at a deemed price of once cent per unit to settle the outstanding debt of $18,126.91, and issues 4,672,878 shares to two non-arm's-length parties to settle outstanding debt for $46,728.78.

Peter Bell, chief executive officer, comments: "Thanks to our new CFO [chief financial officer] Andrew Low for taking an inducement fee of approximately 1 per cent of Kermode's shares as part of this transaction. Also, I am grateful for the opportunity to settle an old unpaid invoice from a prospector in Manitoba and make that payment in shares. Please find below the full list of trade payables for which I took shares in this transaction, detailed below."