VANCOUVER, BC – December 15, 2025 – Kenadyr Metals Corp. (TSX-V: KEN.H; OTC: KNDYF) (“Kenadyr” or the “Company”), which is being renamed Algo Grande Copper Corp., announces that, further to its press releases of September 15, 2025, and September 26, 2025, it has completed the third and final tranche of a non-brokered private placement of 2,314,701 Kenadyr subscription receipts (“Subscription Receipts”) at a price of $0.375 per Subscription Receipt for gross proceeds of $868,012.88 (the “Offering”). The Offering was announced on August 18, 2025, in connection with Kenadyr’s proposed reactivation on the TSX Venture Exchange (the “TSXV”) and the acquisition of the Adelita Project (the “Proposed Transaction”). Including proceeds from the first and second tranches, the Offering has raised total gross proceeds of $3,824,400.
Each Subscription Receipt will be convertible into one common share of the capital of Kenadyr (a “Common Share”), subject to the satisfaction of certain escrow release conditions, including the completion of the Proposed Transaction and the approval of the TSXV. The proceeds from the Offering will be held in escrow pending satisfaction of the escrow release conditions. Upon release from escrow, the proceeds from the Offering will be used to fund payment obligations and exploration expenditures in connection with the Adelita Project, as well as for general working capital purposes.
In connection with the closing of the third tranche, Kenadyr paid finder’s fees of $10,500 in cash and issued 84,000 broker warrants (the “Broker Warrants”) to certain eligible finders. Each Broker Warrant is exercisable to acquire one additional Common Share at an exercise price of $0.375 for a period of two months from the date of issuance. In addition, Kenadyr will issue 56,000 Common Shares to an arm’s length finder as consideration for a cash finder’s fee (the “Finder’s Shares”). The Finder’s Shares will be issued upon completion of the Proposed Transaction.
The proceeds from the Offering will be used for exploration expenditures and payments for land in connection with the Adelita Project, salaries and consulting fees, marketing and investor relations, settlement of existing liabilities, repayment of loans, and other general and administrative expenses, including legal, accounting, and audit expenses.
The Company has received conditional approval from the TSXV for the Proposed Transaction and anticipates that the Proposed Transaction will be completed on or about December 16, 2025.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been and will not be registered.
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Further information regarding the Proposed Transaction can be found in the Company’s press release dated August 18, 2025.
Filing of Technical Report
The Company is also pleased to announce that it has filed an independent technical report for the Adelita Project entitled “NI 43-101 Technical Report on the Adelita Project, Sonora/Sinaloa, Mexico” (the “Technical Report”) with an effective date of August 15, 2025.
The Technical Report was prepared by Lorne Warner, P.Geo., who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. A copy of the Technical Report is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
About Kenadyr Metals Corp.
Kenadyr Metals Corp. (TSX-V: KEN.H; OTC: KNDYF), which is to be renamed Algo Grande Copper Corp., is a growth-oriented mineral exploration company advancing the Adelita Project – a large-scale, multi-system copper-gold-silver project in the prolific Arizona-Sonora copper belt.
The Company is committed to unlocking the full mineral potential of this underexplored corridor through disciplined, data-driven exploration, technical excellence, and a firm commitment to creating shareholder value. The 5,985-hectare Adelita Project is anchored by the high-grade Cerro Grande Cu-Au-Ag skarn discovery, which exhibits strong continuity along a defined corridor of over 6 kilometers. Re-interpretation of historic geophysical data and field mapping suggests the presence of a potential porphyry system at depth, suggesting a classic skarn-porphyry mineralization model, similar to the major deposits in northwestern Mexico.
ON BEHALF OF KENADYR METALS CORP.
“Enrico Gay”
Enrico Gay
Chief Executive Officer
For further information, please contact: Email: info@algo-grande.com Website: www.algo-grande.com
Cautionary Note Regarding Forward-Looking Information
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains statements and information which, to the extent that they are not historical facts, are “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements regarding the completion of the Proposed Transaction, the intended use of proceeds of the Offering and the receipt of all required corporate and regulatory approvals in respect of the Offering. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
