Homerun Resources closes $3.12-million financing

Executive Summary

• Homerun Resources Inc. received final TSX Venture Exchange approval and closed a $3.13 M private placement financing, issuing 3,128,384 units.
• Each unit includes one common share and one warrant exercisable at $1.30 per share for up to 24 months, with acceleration rights if the share price stays ≥ $2 for ten consecutive trading days.
• Net proceeds will fund project payments, ongoing development of the company’s silica‑related projects, and general working capital; cash finder fees of $59,605 were paid and non‑transferable broker warrants issued.

Key Details

• Total gross proceeds: $3,128,384.
• Units issued: 3,128,384 units (each = 1 common share + 1 warrant).
• Warrant terms: Exercise price $1.30; exercisable for 24 months; acceleration clause if the company’s share price ≥ $2 for ten consecutive trading days.
• Hold period: All securities subject to a four‑month‑and‑one‑day hold restriction.
• Cash finder fees: $59,605 paid to placement agents.
• Broker warrants: 59,605 non‑transferable broker warrants issued in connection with the financing.
• Use of proceeds: Project payments, continued development of silica, solar, energy storage and energy solutions projects, and general working capital.

Notable Quotes

(No executive quotes were included in the release.)