Kermode Resources Buys Buzz Lake Gold Project
Kermode Resources Ltd. (KLM.V), which is trading cloe to a year high 13 cents, announced the acquisition of the Buzz Lake Gold Project which is located in the renowned Snow Lake-Wekusko Region in west central Manitoba. Kermode will issue 1.4 million shares and pay $40,000 to acquire a 100% interest in the property, subject to a 2.0% net smelter returns royalty, of which 1.5% may be purchased by Kermode in consideration of $500,000 for each 0.5%. The agreement is subject to TSX Venture Exchange approval. All securities issued with respect to this transaction are subject to a four-month hold period.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.