Kermode Resources to issue 10 million shares for debt

Executive Summary

• Kermode Resources Ltd. will issue 10 million common shares at C$0.01 each as full and final payment of $100,000 debt owed to arm’s‑length creditors.
• The issued securities will be subject to a statutory hold period that expires four months and one day after issuance.
• The previously announced share‑for‑service arrangement with 802213 Alberta Ltd. and 911 Exploration Corp. has been cancelled; no shares will be issued under that agreement.

Key Details

• Debt Settlement: 10,000,000 common shares @ C$0.01 per share = $100,000 total consideration to settle unpaid invoices.
• Hold Period: All securities issued for the debt settlement are subject to a statutory hold period expiring 4 months + 1 day after issuance date.
• Share‑for‑Service Agreement Cancellation: The company will not proceed with the share issuance previously announced on July 22, 2025 for services provided by 802213 Alberta Ltd. and 911 Exploration Corp.; no securities will be issued under that arrangement.
• Regulatory Condition: Issuance is subject to approval by the TSX Venture Exchange.

Notable Quotes

(No quotes were included in the release.)