Kermode Resources Ltd announced a non-brokered private placement to issue 5,000,000 units at an issue price of CAD 0.01 per unit for the gross proceeds of CAD 50,000 on July 8, 2024. The units shall consist of one common share and one common share purchase warrant. The warrant shall be exercisable to acquire one common share of the company at a price of CAD 0.05 per warrant share for a period of 36 months from the closing of the offering with no accelerator conditions.

In connection with the offering, the company may pay a finder's fee in cash, shares, and warrants to certain eligible finders. The offering is anticipated to close on or about August 21, 2024, or such later date as the company may determine. The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

The company advises that the insiders of the company may participate in the offering. All securities issued in connection with the offering will be subject to a four-month and one-day hold period under applicable securities laws.