Kenadyr Metals Closes Second Tranche of Subscription Receipt Financing and Announces Upsize to $3,800,000

Core Viewpoint - Kenadyr Metals Corp. has successfully closed the second tranche of a non-brokered private placement, raising a total of $3,800,000 for the acquisition of the Adelita Project and related expenses [1][4]. Group 1: Financing Details - The second tranche involved the issuance of 1,959,665 subscription receipts at a price of $0.375 each, generating gross proceeds of $734,874.38 [1]. - The total gross proceeds from the Offering, including the first tranche, amount to $3,016,388.13 [1]. - The Offering has been upsized from an initial target of $3,000,000 to $3,800,000 [4]. Group 2: Use of Proceeds - Proceeds from the Offering will be allocated towards exploration expenses, property payments for the Adelita Project, salaries, consulting fees, marketing, investor relations, and general administrative expenses [4]. - The funds will also cover existing accounts payable and loan repayments [4]. Group 3: Project Overview - The Adelita Project includes the Cerro Grande skarn, a high-grade Cu-Au-Ag system located in Sonora, Mexico, with over 7,000 meters of historical drilling and multiple untested targets [10]. - The project is being advanced using AI-assisted 3D geophysical modeling to refine drill targets and guide potential resource delineation [10]. Group 4: Future Expectations - The company anticipates closing the third and final tranche of the Offering in due course, pending approval from the TSX Venture Exchange [5].