Homerun Resources Inc. Announces Financing

Rhea-AI Summary

Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) has announced a non-brokered private placement financing to raise up to $1,000,000. The offering consists of up to 769,231 units priced at $1.30 per unit. Each unit includes one common share and one warrant, exercisable at $2.00 for 24 months. The company retains the right to accelerate warrant exercise if shares trade at or above $3.00 for 10 consecutive trading days.

Finders' fees may apply, subject to TSX Venture Exchange policies. All securities will have a four-month hold period. Proceeds will be used for general working capital and development of Homerun's HPQ silica projects within the global energy transition sector.

Positive

• Raising up to $1,000,000 through private placement financing
• Warrants provide potential for additional capital at $2.00 per share
• Accelerated warrant exercise clause if stock performs well
• Funds allocated for working capital and development of HPQ silica projects

Negative

• Potential dilution of existing shareholders due to new share issuance
• Four-month hold period on new securities may limit short-term liquidity

Vancouver, British Columbia--(Newsfile Corp. - October 9, 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 769,231 units at $1.30, 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 $2.00 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 $3.00 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 (https://homerunresources.com/)

Homerun is focused on the development of industrial materials and technologies that will contribute to meeting the world's clean energy and climate goals. The Company is listed on the TSX Venture Exchange under the symbol HMR.

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/226150

FAQ

What is the price per unit in Homerun Resources' (HMRFF) private placement financing?

Homerun Resources Inc. is offering units at $1.30 each in its private placement financing.

How much is Homerun Resources (HMRFF) aiming to raise through this financing?

Homerun Resources Inc. is aiming to raise up to $1,000,000 through this non-brokered private placement financing.

What is the exercise price and duration of the warrants in Homerun Resources' (HMRFF) financing?

The warrants in Homerun Resources' financing have an exercise price of $2.00 and are valid for 24 months.

How will Homerun Resources (HMRFF) use the proceeds from this financing?

Homerun Resources will use the proceeds for general working capital and for the continuing development of its HPQ silica projects within the global energy transition.