Homerun Resources Inc. Announces Financing

Rhea-AI Summary

Homerun Resources Inc. announces a non-brokered private placement financing of up to $1,000,000 through the issuance of 2.0 million units at 50 cents each, including common shares and warrants. The financing aims to support general working capital and the development of HPQ silica projects.

Vancouver, British Columbia--(Newsfile Corp. - February 15, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce a non-brokered private placement financing for aggregate gross proceeds of up to $1,000,000. The financing will consist of up to 2.0 million units at 50 cents, each unit consisting of one common share of the company and one common share purchase warrant with each warrant being exercisable for an additional common share at an exercise price of 75 cents for 24 months. The warrants will be subject to the right of the company to accelerate the exercise of the warrants if the shares of the company trade at or above $1.50 for a period of 10 consecutive trading days. Finders' fees in accordance with TSX Venture Exchange policies may apply to the financing. All securities issued pursuant to the financing will be subject to a four-month hold. Proceeds from the financing will be used for general working capital and for the continuing development of the Company's HPQ silica projects within the global energy transition.

About Homerun Resources
Homerun Resources is focused on the development of its business within the critical and energy materials sectors. With a steadfast commitment to operational excellence, sustainability, and building shareholder value, Homerun Resources Inc. is poised to make a lasting impact in these industries.

On behalf of the Board of Directors of
Homerun Resources Inc.

"Brian Leeners"

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198092

FAQ

What is the purpose of Homerun Resources Inc.'s private placement financing?

The financing aims to raise up to $1,000,000 for general working capital and the development of the Company's HPQ silica projects.

How many units will be issued in Homerun Resources Inc.'s private placement financing?

Up to 2.0 million units will be issued at 50 cents each, consisting of one common share and one common share purchase warrant.

What is the exercise price of the common share purchase warrant in Homerun Resources Inc.'s private placement financing?

The exercise price of the common share purchase warrant is 75 cents, valid for 24 months.

How long is the hold period for securities issued in Homerun Resources Inc.'s private placement financing?

All securities issued will be subject to a four-month hold period.

How will the proceeds from Homerun Resources Inc.'s private placement financing be utilized?

The proceeds will be used for general working capital and the development of the Company's HPQ silica projects within the global energy transition.