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Kermode Resources Ltd V.KLM

Alternate Symbol(s):  KMDRF

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.


TSXV:KLM - Post by User

Comment by Newton1234on Jun 27, 2022 12:50am
76 Views
Post# 34783747

RE:Not sure what to make of today's PR. Bummed about RYE.

RE:Not sure what to make of today's PR. Bummed about RYE.Also, please note that the exchange said "No" to the first set of terms we proposed for the Rye Patch deal. They said the "anti dilution" clause would mean the deal was reviewable, not expedited. The issue with the most recent proposed terms was that the vendor group are deemed to be "associates" because they are all family so they can't get more than 10% of the company all together over the life of the deal. 

Note that the new terms will be the third set of terms for the proposed deal on Rye Patch. I would have liked to announce new terms, but the vendor has been in hospital since the exchange said no to the proposed terms as in the news release so I haven't been able to renegotiate yet. 

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