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Kermode Resources Ltd. — Capital/Financing Update 2023
Jul 19, 2023
42496_rns_2023-07-19_8adfa913-1828-4118-9178-6563b0aa85f4.pdf
Capital/Financing Update
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Kermode signs LOI for BLACK PANTHER Project on Vancouver Island
Victoria, British Columbia - (July 19, 2023) - Kermode Resources Ltd. (TSXV: KLM) announces a non-binding letter of intent for a purchase option on the BLACK PANTHER project on Vancouver Island, British Columbia. The BLACK PANTHER project comprises BC mineral title numbers #1104637, 1098514, 1098836, 1103854, 1106076 with total size 1,163 hectares.
| Timing | Cash | Securities | Exploration or OtherWork Commitments |
|---|---|---|---|
| Signing | $0 | 4,000,000 | $0 |
| Year 1 | $0 | 4,000,000 | $0 |
| Year 2 | $0 | 4,000,000 | $0 |
| Year 3 | $0 | 4,000,000 | $0 |
The vendors have a “net smelter return royalty” for 2% two percent with a $2M two million dollar buy-down and a “Sale Participation Right” for 20% of any proceeds received by Kermode from any future sale of disposition of any interest in the property in the next ten years.
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
For further information please contact: Tel: 1-250-588-6939 Email: [email protected] Website: https://linktr.ee/kermoderesources
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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. There is no assurance (i) the conditions to closing the purchase and sale of the Project will be satisfied or waived, or (ii) that the Company will acquire the Project on the terms as outlined above, or at all. 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.