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Kermode Resources Ltd. — M&A Activity 2022
Nov 22, 2022
42496_rns_2022-11-22_e89d1fe3-7ff7-45fd-abc9-447a875d6bdf.pdf
M&A Activity
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Letter Of Intent for “CAYCUSE RIVER”
Victoria, British Columbia - (November 22, 2022) - Kermode Resources Ltd. (TSXV: KLM) ("Kermode") has entered into a non-binding letter of intent to acquire the CAYCUSE COPPER ("Project"). The Project comprises mineral tenures 1099350. The claims cover 1,383 hectares on Vancouver Island.
Kermode may acquire a 100% interest in the Project for the following consideration.
| consideration. | |
|---|---|
| Name of Party | Number and Type of Securities to beIssued |
| Justin Deveault | 5,000,000 on closingup to 45,000,000 shares over ten years (upto 5,000,000 per year) to retain a 9.9%interest in Kermode. |
| Michael Deveault | 5,000,000 on closing |
| Justin McNutt | 5,000,000 on closing |
In addition, the deal shall have the following features:
-
1% "Net Smelter Return Royalty" payable to the Group, where 1% can be bought-down for $1,000,000 entirely or in part.
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10% “Sales Participation Right” payable for any transaction in the following ten years.
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An area of interest of 10km ten kilometres.
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No spending obligations or work commitments.
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. Forward-looking statements in this document includes, but is not limited to whether any proposed transaction shall be completed at any time.