Kenadyr to change its name to Algo Grande Copper

Kenadyr Metals Corp. [KEN.H-TSXV, KNDYF-OTC] is set to be renamed Algo Grande Copper Corp. as part of the launch of its copper-focused growth strategy, which includes a proposed reactivation on the TSX Venture Exchange.

As part of the transaction, Kenadyr has entered into agreements to acquire a 100% interest in the high-grade Adelita Copper-Gold-Silver Project, a district scale opportunity in the Sonora-Arizona Copper Belt. This includes the previously announced agreement to acquire an initial 80% interest in the project, which was announced in a news release dated June 20, 2025.

These developments come after the company recently announced the formation of a technical advisory board as part of its long-term strategy to acquire, explore and develop copper assets in North America. The company said this decision aligns with robust fundamentals for copper as a critical metal in the clean energy transition as well as emerging technologies.

Kenadyr’s Advisory Board is composed of leading industry experts to guide the company’s exploration, development and corporate execution efforts. It includes Dr. Peter K.M. Megaw, a world-renowned exploration geologist with over 45 years of experience in mineral discovery, with a particular focus on carbonate replacement (CRD) and skarn systems. He is co-founder of MAG Silver Corp. [MAG-TSX, NYSE American].

Kenadyr said it has entered into an asset purchase agreement dated August 12, 2025, with Minaurum Gold Inc. [MGG-TSXV, MMRGF-OTC, 78M Frankfurt], an arm’s length party to Kenadry, and Minera Minaurum Gold, S.A. de C.V., a private Mexican company to acquire Minaurum’s 20% right, title and interest in the Adelita project. The transaction is expected to complete concurrently with the company’s acquisition of Exploraciones Margarita S.A. de C.V., a private Mexican company holding an 80% stake Adelita.

Under the terms of the Minaurum agreement, Kenadyr will acquire a 20% interest in the property in exchange for 313,953 common shares, worth $135,000 or 43 cents per share. Minaurum will retain a 1.0% net smelter return royalty from the sale of any ores, minerals, mineral substances, metals or concentrates derived from the property.

The Adelita Project is anchored by the Cerro Grande Skarn discovery, a near-surface copper gold silver system open along strike and depth. The 5,985-hectare project hosts a pipeline of untested, high-priority targets beyond the Cerro Grande discovery, which covers just 5.0% of the property.

In connection with the acquisitions, Kenadry will complete a concurrent non-brokered private placement of subscription receipts priced at 0.375 per receipt for aggregate proceeds of $3.0 million. Each subscription receipt will convert into one common share, subject to the satisfaction of certain escrow release conditions, including the completion of the acquisitions and approval of the TSXV.

It is anticipated that the acquisitions and financing will result in the company satisfying the TSXV’s continued listing requirements for the Tier 2 mining issuer. The company said it intends to apply to the TSXV to graduate from the NEX board of the TSXV to the Tier 2 of the TSXV.