Northwire Canada EditionSaturday, September 19, 2026
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GOLD 4424.90 +0.6% SILVER 67.15 +1.6% COPPER 6.69 +0.5% OIL 96.08 −5.7% PALLADIUM 1319.50 +1.3% ARIC 0.760 −1.3% DCOP 0.095 +0.0% GLO 0.620 +3.3% CCM 0.770 +1.3% FAN 0.750 +2.7% FL 0.450 −1.6% BGF 0.030 +0.0% KLD 2.25 −0.4% SLVR 1.17 +1.7% LEM 0.250 +0.0% GENM 0.610 −3.2% SICO 9.80 +1.0% CTV 0.125 +0.0% CTM 0.140 +0.0% RSMX 0.110 −4.3% FT 0.145 +3.6% GOLD 4424.90 +0.6% SILVER 67.15 +1.6% COPPER 6.69 +0.5% OIL 96.08 −5.7% PALLADIUM 1319.50 +1.3% ARIC 0.760 −1.3% DCOP 0.095 +0.0% GLO 0.620 +3.3% CCM 0.770 +1.3% FAN 0.750 +2.7% FL 0.450 −1.6% BGF 0.030 +0.0% KLD 2.25 −0.4% SLVR 1.17 +1.7% LEM 0.250 +0.0% GENM 0.610 −3.2% SICO 9.80 +1.0% CTV 0.125 +0.0% CTM 0.140 +0.0% RSMX 0.110 −4.3% FT 0.145 +3.6%
Financings

VR Resources Announces $1.5M Brokered Private Placement Led by Centurion One Capital, Concurrent Share Consolidation, Management Change, and Start-Up of Drill Planning for its New Boston Tungsten-Molybdenum-Copper-Silver porphyry project in Nevada

By The Northwire Desk — AI Analysis Oct 20, 2025 · 19:09 VRR · 0.025 VR Resources Ltd.
VRR · Price

Executive Summary

  • VR Resources entered into a brokered private placement agreement with Centurion One Capital to raise up to $1.5 M by selling up to 15 M units at $0.10 per unit (post‑consolidation).
  • The proceeds are earmarked for exploration work on the New Boston tungsten‑moly‑copper‑silver porphyry project and the Bonita copper‑gold porphyry project in Nevada, as well as general working capital.
  • CEO and President Justin Daley resigned; the Board appointed Dr. Michael H. Gunning, Founder and Chairman, as the new President & CEO.

Key Details

  • Units Structure: Each unit = 1 common share + 1 warrant (right to purchase 1 additional share at $0.16 for 36 months).
  • Pricing & Quantity: Up to 15 M units @ $0.10 per unit → maximum gross proceeds of $1.5 M (pre‑deduction of commissions).
  • Commission: Lead agent receives an 8% cash commission on aggregate cash proceeds plus broker warrants equal to 8% of the total units issued.
  • Closing Date: Anticipated around November 14, 2025, subject to approvals and completion of a share consolidation.
  • Hold Period: Units will have a lock‑up of four months and one day from closing.
  • Consolidation: 5‑for‑1 reverse split (pre‑consolidation to post‑consolidation) pending TSXV approval; post‑consolidation shares expected ≈ 26.7 M (rounded).
  • Use of Proceeds:
  • Preparation and submission of drill permit for New Boston (W‑Mo‑Cu‑Ag target at Jeep Mine).
  • Scoping & execution of drilling contract for New Boston.
  • Execution of contract for a 3D‑array DCIP geophysical survey at Bonita (copper‑gold porphyry stock target at Copper Queen).
  • Related Party Participation: Insiders, the Lead Agent, and affiliates may acquire up to ~50 % of the offering; expected exemption from MI 61‑101 valuation/approval thresholds.
  • Management Change:
  • Justin Daley tendered resignation as CEO & President effective Oct 20, 2025.
  • Dr. Michael H. Gunning appointed President & CEO (also Founder and Chairman).

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

More from VR Resources Ltd.

Sep 17, 2026 · 07:00

VR raises $7.5m for critical follow-up drilling at its Nevada flagship project.

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VR advances its Athos merger with a TSXV filing, securing additional cash and reporting continued drill progress.

M&A / Property Aug 26, 2026 · 07:00

VR reports 881 m of low-grade CuEq veining with a narrow W-Ag skarn core from a single drill hole.

Drill Results Jul 28, 2026 · 07:00

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Drill Results Jul 16, 2026 · 07:00

vr completes survey and advances athos deal while managing tight cash runway amid drilling costs

M&A / Property Jul 07, 2026 · 07:00

VR reported 2,900 feet of sulfides at New Boston with zero grams per tonne, leaving the grade unknown.

Drill Results