Homerun Energy recognized as innovator in Europe

Executive Summary

• Homerun Resources Inc. has closed a $3.13 million private placement financing, receiving final approval from the TSX Venture Exchange.
• The company’s subsidiary, Homerun Energy SRL, was recognized as a "Key Innovator" by the European Commission's Innovation Radar for its work on NIR-Optimized Flexible CIGS Modules within the E.T.Compact project.
• The financing involves the issuance of 3,128,384 units at $1.00 per unit, including warrants exercisable at $1.30, with proceeds allocated to project payments, development, and working capital.

Key Details

• Financing Structure:
  • Gross Proceeds: $3,128,384.
  • Units Issued: 3,128,384 units.
  • Price Per Unit: $1.00.
  • Warrant Terms: Each unit includes one common share purchase warrant for one additional common share.
  • Exercise Price: $1.30 per share.
  • Warrant Term: 24 months.
  • Acceleration Clause: The company may accelerate the exercise period if shares close at or above $2.00 for 10 consecutive trading days.
  • Hold Period: Four months and one day for all securities issued.
• Use of Proceeds:
  • Project payments.
  • Continuing development of the company's projects.
  • General working capital.
• Finder’s Fees:
  • Cash fees of $31,150 to be paid upon receipt of exchange approval.
  • Issuance of 31,150 non-transferable broker warrants.
• Corporate Recognition (Homerun Energy SRL):
  • Recognized as a "Key Innovator" by the European Commission's Innovation Radar.
  • Innovation Title: NIR-Optimized Flexible CIGS Modules for Propellant Less Solar Propulsion System.
  • Project: E.T.Compact, funded under the Horizon Europe program.
  • Market Maturity: Business ready.
  • Market Creation Potential: High.
  • Significance: Highlights commercial readiness and potential to open new markets in energy applications.

Notable Quotes

• "This recognition by the European Commission's Innovation Radar is an important milestone for Homerun Energy. It confirms not only the technological maturity of the perovskite photovoltaic solutions developed within E.T. Compact, but also its strong potential to reach the market and create real impact. We are proud to contribute to a European project that advances innovation in sustainable energies." — Luca Sorbello, CEO of Homerun Energy.