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- Mon Jan 29, 2018 - Kermode to Focus on Eastgate Gold Project in Nevada
Kermode Resources Ltd. (KLM:TSX-V) January 29, 2018 announces the successful completion of a transaction to sell the company's long-held Jackson's Arm Gold Deposit (the \'Project\') in Newfoundland, Canada. Anaconda Mining Inc. (ANX:TSX) acquired 100% of the Project for cash and shares of ANX, the current value of which is approximately $550,000. The terms are detailed below.
- Mon May 25, 2015 - Kermode/Boss Eastgate Agreement
Kermode is pleased to announce it has reached agreement to sell part of its interest in its Nevada Eastgate gold project to Boss Power.
Under the terms of the agreement, Boss will purchase one-half of Kermode's 30% interest in the property for US$250,000 and have the right to participate with Kermode in the underlying agreement that Kermode has with Blue Ridge Gold (see NR May 10,2012).
Boss will purchase, in two transactions, each involving the payment of US$ 200,000 to Blue Ridge for an
- Mon Jun 23, 2014 - Kermode purchases a 30% direct interest in Eastgate Gold Property, Kermode Terminates Demerara Option
Kermode has now made payments under the terms of its Agreement with Blue Ridge Gold LLC, (a private Nevada company) and has purchased a direct 30% interest in the Eastgate Gold Property, Nevada.
Kermode can acquire up to a 100% interest in the Eastgate Gold Property from Blue Ridge subject to a 3% NSR with buy down provisions on 1%.
The Eastgate property provides a unique opportunity to explore a well-developed hydrothermal gold-silver system with historic evidence to support the presence
- Mon Apr 28, 2014 - Kermode Closes Second Unit Eastgate Project Financing
Kermode is pleased to announce that it has closed its $225,000 Second Unit financing with Demerara Gold in accordance with the terms described in Kermode's News Release of April 24, 2014. All securities issued pursuant to this financing are subject to a hold period expiring four months and one day from the date of issuance.
Proceeds of the financing will be used to meet an upcoming option payment due to Blue Ridge Gold LLC, the underlying vendor of Kermode's flagship Eastgate Project in nort
- Tue Apr 1, 2014 - Private Placement; Resignation of Adrian O'Brien as President
Further to Kermode's previous news release, the Company confirms its intention to complete a non-brokered private placement financing for proceeds of $100,000, to be used for general working capital purposes. The Company will issue 2,000,000 shares at a price of $0.05 per share, to insiders and non-insiders. The financing is subject to TSX Venture Exchange final acceptance.
Kermode also announces the resignation of Adrian O'Brien in his capacity as President of the Company; however he wil
- Fri Nov 15, 2013 - Private Placement Financing
Kermode has arranged a private placement financing for proceeds of $100,000. The company will issue 2,000,000 shares to insiders of the company at a price of $0.05 per share, subject to TSX Venture approval.
The funds will be used for general working capital purposes.
For further details on Kermode please visit our website at www.kermode.com
ON BEHALF OF THE BOARD
\'D. Neil Briggs\'
- Mon Jul 29, 2013 - Kermode Closes $400,000 Initial Financing
Kermode Resources Ltd. is pleased to report that as per the Agreement announced June 19th, 2013 and July 10, 2013 between Kermode Resources and Demerara Gold, the initial financing has been increased by $50,000, and is closed. This initial financing consisted of 8 Million units of Kermode at a price of $0.05 per unit for total gross proceeds of $400,000. Each unit consisted of one common share of Kermode, and one share purchase warrant priced at $0.125. The exercise of the $0.125 warrants will
- Wed Jul 10, 2013 - Kermode Updates Demerara Option Terms
Further to its news release of June 19, 2013, Kermode Resources Ltd. (the \'Company\') announces updated terms to the Option Agreement (the \'Agreement\') with Demerara Gold Ltd. (\'Demerara\').
Demerara has the option to acquire between 21% and 76% interest in the Eastgate Gold Property (the \'Property\') through a series of staged payments.
In order to acquire an initial 21% interest in the Property, Demerara must complete financings in Kermode for a total of $1,850,000, and pay Kermode $650,000
- Wed Jun 19, 2013 - Kermode Secures $2.45 Million Financing for Eastgate Gold Project
Kermode Resources Ltd. is pleased to announce that the Company has secured financing to advance its Eastgate Gold Project. Kermode has entered into an agreement with Demerara Gold Corp. for a total investment of up to $2.45 Million. The financing will consist of (1) a series of staggered financings, set at a significant premium to current market, as follows: $350,000 at $0.05 per share, $1,000,000 at $0.125 per share, and two tranches of $225,000 at $0.30 per share totalling $450,000; and (2) a
- Wed Feb 6, 2013 - Buzz Lake Drilling Completed
Mr. Adrian O'Brien reports:
Kermode announces that the Buzz Lake Drill Program announced December 18, 2012 has been completed. This drill program was designed to test an 850 metre long geophysical target, originally drilled by Hudson's Bay Exploration and Development in 1985.
Kermode tested the structure along strike, with a total of 905 metres of drilling. Assays reported anomalous gold but no economically significant values.
No further work is planned at Buzz Lake.