The TSX Venture Exchange has accepted for filing an option agreement dated Dec. 13, 2022, between Kermode Resources Ltd. and arm's-length parties. Pursuant to the terms of the agreement, the company may acquire a 100-per-cent interest in Grey copper project and Jonathan's Pond claims in Newfoundland. The project comprises mineral tenures No. 034777M, No. 035343M and No. 034994M. By way of consideration, the company will issue 13 million shares over the next two years to the optionors. The property is subject to a 2-per-cent net smelter return (NSR) royalty in favour of the optionors and the company may purchase a 1-per-cent royalty for $1-million.

For further details, please refer to the company's news releases dated June 30, 2022, and Dec. 9, 2022.