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Kermode Resources Ltd. — Capital/Financing Update 2023
Jun 29, 2023
42496_rns_2023-06-28_14b3b422-1205-4760-a62a-7ec1ce87b098.pdf
Capital/Financing Update
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Kermode Resources settles \$64,855.69 in debt for shares
Victoria, British Columbia – June 28, 2023 – Kermode Resources Ltd. (TSXV: KLM) ("Kermode" or "Company") announces 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 TSXV.
Kermode settles \$64855.69 of debt through the issuance of common shares of Kermode. The Company issues 1,812,691 shares to an arm's length parties at a deemed price of CAD \$0.01 per unit to settle the outstanding debt of \$18,126.91 and issues 4,672,878 shares to two non-arms length parties to settle outstanding debt for \$46,728.78.
CEO Peter Bell comments, "Thanks to our new CFO Andrew Low for taking an inducement fee of approximately 1% 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."
| Nature of Debt (e.g. trade payable, management fees, etc) |
Amount Owing |
Date |
|---|---|---|
| Flight to Vancouver |
\$265.39 | 8/10/2021 |
| PIF fee for Director F. Long |
\$210.00 | 8/12/2021 |
| Postage & Printing for shareholder in the USA |
\$129.94 | 11/18/2021 |
| TSXV fees (New Articles of Incorporation) |
\$525.00 | 11/19/2021 |
| TSXV fees (SHARES-FOR-DEBT) |
\$265.39 | 12/1/2021 |
| TSXV fees (SEAHORSE SADDLE) |
\$525.00 | 2/11/2022 |
| TSXV fees (LITTLE BAY) |
\$525.00 | 4/11/2022 |
| TSXV fees (KHRYSOS) |
\$525.00 | 5/13/2022 |
| Legal Fees (Non-Prospectus Distribution Filing Fees) |
\$1,475.00 | 7/11/2022 |
| Closing TSXV fees (LUCKY STRIKE ) |
\$2,126.25 | 7/19/2022 |
| TSXV fees (Stock Option Plan ) |
\$525.00 | 10/27/2022 |
| CONSULTANT FEE |
\$1,050.00 | 11/1/2022 |
| QP FEE |
\$259.88 | 11/2/2022 |
| LEGAL FEES Owen Bird |
\$5,000 | 11/2/2022 |
| PIF for MILOSZ MIELNICZUK |
\$210.00 | 11/8/2022 |
| TSXV fees (GREY COPPER) |
\$525.00 | 11/8/2022 |
| TSXV fees (CAYCUSE COPPER) |
\$525.00 | 11/10/2022 |
| TSXV fees (LARA VMS) |
\$525.00 | 11/10/2022 |
| TSXV fees (Private Placement) |
\$787.50 | 11/24/2022 |
|---|---|---|
| TSXV fees (shares for services) |
\$525 | 12/31/2022 |
| TSXV fees (shares for services) |
\$525 | 12/31/2022 |
| TSXV fees (private placement LIFE) |
\$1,050 | 12/28/2022 |
| QP FEE |
\$675.68 | 12/19/2022 |
| Closing TSXV fees (GREY COPPER) |
\$1,023.75 | 12/13/2022 |
| Closing TSXV fees (CAYCUSE COPPER) |
\$4,725.00 | 12/9/2022 |
| Opening TSXV fees (KHRYSOS) |
\$1,050 | 5/10/2023 |
| Closing TSXV fees (KHRYSOS) |
\$1,575 | 5/25/2023 |
| Opening fee TSXV fees (911 MINING SHARES FOR SERVICES) |
\$1,050 | 5/9/2023 |
| Closing TSXV fees (Private Placement) |
\$1,050 | 5/8/2023 |
| Total (Peter Bell) |
\$29,228.78 | -- |
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 may contain certain "forward-looking" statements and information relating to Kermode which are based on the beliefs of Kermode's management, as well as assumptions made by and information currently available to Kermode's management. There is no assurance any of the shares-for-debt settlements occur on the terms as outlined above or at all.