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04:00:46 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Kermode Resources Ltd
Symbol KLM
Shares Issued 119,630,170
Close 2022-10-31 C$ 0.015
Market Cap C$ 1,794,453
Recent Sedar Documents

Kermode grants one million performance share units

2022-11-02 07:19 ET - News Release

Bell Subject: News release to publish $KLM (PSU to Castlewood Capital) PDF Document File: Attachment 2022-11-02-PSU news release.pdf Kermode grants Performance Share Units to Castlewood Capital Corporation Victoria, British Columbia November 2, 2022 Kermode Resources Ltd. (TSXV: KLM) (the "Company" or "Kermode") grants Performance Share Units ("Units") to Castlewood Capital Corporation, a consultant. The Units vest after one year and have a term of three years to expiry from the effective date, today. The Units have been granted in accordance with the Company's security-based compensation plan. The Units entitle the consultant to receive payment in cash or shares of an amount equal to the closing market price on the day immediately prior to the last day of the applicable Performance Period multiplied by the applicable multiplier, to be determined on the last day of the Performance Period. The timing of the Performance Period for any Units that may be exercised is at the sole discretion of the Board of Directors. After the Units have vested, some may be exercised on some dates and others on different dates at the sole discretion of the Board to allow for multiple Performance Periods to exercise different tranches of Units. The Board is not obligated to exercise any number of the Units at any time unless it so decides. At the sole discretion of the Board of Directors, the form of payment for any Units shall be determined upon exercise. The amount of shares are subject to certain restrictions; for instance, Castlewood Capital shall not receive more than 2% of the shares of Kermode in any 12 month period as per the plan and TSXV policy. The multiplier shall be set at the sole discretion of the Board of Directors at the time of exercise with a maximum value of ten-to-one (10:1). Kermode grants one million 1,000,000 units to the consultant. Contact Castlewood Capital Corporation 130 King St. W., Suite 3680, jason@castlewoodcapital.ca Toronto, Ontario, M5X 1B1 Jason Libenson: 1-647-534-9884 About Castlewood Capital Corporation Castlewood Capital Corporation is an Exempt Market Dealer (NRD number 75730). Jason Libenson, President and CCO at Castlewood Capital Corporation, comments, "Castlewood Capital is pleased to be working with Kermode. This company needs to move forward if it has a chance to build shareholder value. I see big market opportunities in the natural resource sector based on global economic conditions and I think it's up to management to seize these opportunities." About Kermode Kermode is a junior mining company hunting for exploration opportunities around the world. Peter Bell, President and CEO at Kermode, comments, "It's up to management to seize opportunities, but the junior mining business is capital-intensive and we are nothing without financing. I am grateful for the opportunity to issue Performance Share Units for the first time and look forward to using them much more. The TSXV changed their policy to first allow these Units on November 24, 2021 and it is bullish that we are using them before they are even one year old. I think these Units may prove to be an innovative part of the junior mining financing toolkit over the next decade, adding to charitable flow-through and funding for critical minerals." On Behalf of the Board of Directors, KERMODE RESOURCES LTD "Peter Bell" President/CEO Tel: 1-250-588-6939 Email: peterbellmining@gmail.com 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.

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