On May 24, 2024, Kermode Resources Ltd. closed the transaction. The company has now issued 775,000 units at a price of CAD 0.02 per unit for the gross proceeds of CAD 15,500. The company has issued 250,000 units at a price of CAD 0.02 per unit for the gross proceeds of CAD 5,000 in its second and final tranche closing. Each unit consists of one common share of the company and one common share purchase warrant. For the second tranche, each warrant is 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 to May 24, 2027. There were no finders fees paid in connection with the financing. All securities issued and issuable under the second tranche of the financing will be subject to a four-month hold period expiring September 24, 2024.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from two placees.