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

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.)