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Kermode Resources Ltd (2)
Symbol KLM
Shares Issued 42,590,422
Close 2024-05-14 C$ 0.01
Market Cap C$ 425,904
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Kermode signs shares for services deal with 911

2024-05-15 12:51 ET - News Release

Subject: News release (Kermode updates Shares-for-services agreement with 911 EXPLORATION CORP) PDF Document

File: Attachment 2024-05-15-KLM-Shares For Services NEWS RELEASE 911 MINING.pdf

Kermode signs Shares for Services Agreements with 911 Exploration Corp.

Victoria, British Columbia - (May 15, 2024) - Kermode Resources Ltd. (TSXV: KLM) ("Kermode") announces a Shares for Services agreement, subject to Exchange approval. The Company intends to issue common shares in the capital of Kermode to 911 Exploration Corp. ("Consultant") to pay for certain costs associated with minerals exploration activities ("Services"). The Consultants are arm's length to Kermode and its affiliates.

The Consultant shall be eligible to receive a maximum amount of compensation under this agreement of $100,000 per month or $1,200,000 for the full Term from May 1, 2024 to May 1, 2025. The actual amount of compensation in any month shall depend on the Services provided in that month as expressly agreed in advance with the Company.

The deemed value of Shares issued under this agreement will be the closing price of the Shares on the TSX Venture Exchange on the first trading day after the month wherein the services were provided. The deemed value will not be less than the Discounted Market Price (subject to a minimum price of $0.01). Any shares issued at a deemed price less than $0.05 will be subject to the Exchange Hold Period. In any case, the deemed value shall not be determined and any such securities shall not be issued until after the services are provided to the Issuer.

There shall be a limitation on the total number of shares payable to the Consultant at any time such that the Consultant may not bring their undiluted share position at or above 10% of the Company's issued and outstanding shares until such time that a Personal Information Form or 2C1 Declaration will be filed with and cleared by the Exchange. The Company can pay the company in cash any amount above 10% of the Company's issued and outstanding shares until after such is filled and cleared by the exchange.

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: 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.

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.

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