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Kermode Resources Ltd. — Capital/Financing Update 2023
Mar 2, 2023
42496_rns_2023-03-02_13aaaa6a-7543-43d9-895f-0308705fdb7c.pdf
Capital/Financing Update
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Kermode signs LOI for “BRAZEAU COPPER” project in Ontario
Victoria, British Columbia - (March 1, 2023) - Kermode Resources Ltd. (TSXV: KLM) ("KLM" or "Company") signs a non-binding letter of intent ("LOI") to acquire the BRAZEAU COPPER project (the "Project"). The LOI provides a due diligence period extending to June 1, 2023. During this period, Kermode can conduct any work on the Project prior to entering a definitive agreement for a property purchase option.
TERMS OF THE PURCHASE OPTION:
| Cash | Securities | Exploration Commitments | |
|---|---|---|---|
| Exchange Approval | $0 | 10,000,000 shares | $0 |
| Year 1 | $0 | 0 shares | $0 |
| Year 2 | $0 | 10,000,000 shares | $0 |
The Project land position covers approximately 250 hectares. There shall be an "area of interest" clause whereby the terms of this deal shall apply to any contiguous property that shall be acquired by either party.
About Kermode
Kermode is a junior mining company hunting for exploration opportunities around the world.
On Behalf of the Board of Directors, KERMODE RESOURCES LTD
"Peter Bell" President/CEO
Tel: 1-250-588-6939 Email: [email protected] Website: https://linktr.ee/kermoderesources
Neither the TSX Venture Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as "forward-looking information"). Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Kermode actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although Kermode believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.