Homerun Resources Inc. Files for Closing of $3m Private Placement Financing

Executive Summary

• Homerun Resources Inc. filed documents with the TSX Venture Exchange seeking final approval for a $1.00 unit private placement financing totaling $3,128,384 in gross proceeds.
• The company closed a second and final tranche of the financing, raising an additional $1,560,384, issuing a total of 3,128,384 Units (each Unit = 1 common share + 1 warrant).
• Proceeds will be used for project payments, continued development of its silica‑based projects, and general working capital.

Key Details

• Financing Structure: Private placement of $1.00 units, each consisting of one common share and one common share purchase warrant.
• Warrant Terms: Warrants exercisable at CA$1.30 per additional share for 24 months; company may accelerate exercise if the share price stays ≥ CA$2 for ten consecutive trading days.
• Tranche Information:
• First tranche (previously announced) – part of total 3,128,384 Units.
• Second and final tranche closed at $1,560,384 gross proceeds, issuing 1,560,384 Units.
• Total Gross Proceeds: $3,128,384 from both tranches combined.
• Use of Proceeds: Project payments, ongoing development of silica‑related projects, and general working capital.
• Fees & Additional Warrants: Cash finder's fees of $31,150 to be paid; issuance of 31,150 non‑transferable broker warrants.
• Holding Period: All securities issued are subject to a four‑month and one‑day hold period.

Notable Quotes

• “Brian Leeners”, CEO & Director – contact details provided for investor relations. (No direct quote content included in the release.)