Mr. Peter Bell reports
KERMODE CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $19,000
Kermode Resources Ltd. has completed the first tranche of its
non-brokered private placement. For further information on this
previously announced financing, refer to the company's May 29, 2025, news release.
Kermode issued 1.9 million units at a price of one cent per unit for gross
proceeds of $19,000. Each unit
consists of one common share of the company and one common share
purchase warrant. Each warrant is exercisable to acquire one common
share of the company at a price of five cents per warrant share for a period of 60 months
to June 17, 2030.
The proceeds will be used for general working capital purposes. The proceeds of the
financing will not primarily be used to pay management fees or for investor relations
activities. No insiders invested in this first tranche. There were no finders' fees paid in
connection with this first tranche of the financing.
All securities issued and issuable under the first tranche of the financing will be subject
to a four-month hold period expiring Oct. 18, 2025. Securities issued under any
subsequent tranche(s) will be subject to a four-month hold period calculated from their date
of official closing.
The company anticipates closing a second tranche of the financing on or about July 1,
2025. Completion of a second or other tranches of the financing remains subject to
approval from the TSX Venture Exchange.
About Kermode Resources Ltd.
Kermode is a junior mining company hunting for exploration opportunities around the
world.
We seek Safe Harbor.
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