Issuing more shares for this property acquired 2 years ago because share price has languished ever since... issuing maximum of 90K shares in March 2008 (because share price was so high)... now must change that to almost 600K shares for the same property (because share price is so low)...

Anyone know if this is going to be a common occurrence going forward?... i.e. amending previously made property agreements that KXL has yet to issue shares... couldn't that mean KXL may have to issue many more shares than originally announced?... that would be bad.

red911

Kodiak Exploration, Geomode property agreement amended

2010-03-03 21:14 NT - Property Agreement

Further to the TSX Venture Exchange bulletin dated March 3, 2008, the exchange has accepted a revised number of shares to be issued under the option agreement dated Jan. 31, 2008, between Kodiak Exploration Ltd. and Geomode Mineral Exploration Ltd. (Belkis Reyes), whereby the company has been granted an option acquire up to a 100-per-cent interest in 10 mineral claims located in the Northern mining district of Saskatchewan.

The company is required to either pay an additional $250,000 in cash or issue shares having an aggregate market value of $250,000 (previously stated as a maximum 89,670 shares) by March 3, 2010. The company intends to satisfy the $250,000 payment in shares and the exchange has accepted that a greater number of shares may be issued. The company will issue a total of 581,396 shares.

All other terms noted in the previous bulletin remain unchanged.