Homerun Resources Inc. Announces Upsizing and Closing of Private Placement Financing
Rhea-AI Summary
Homerun Resources (TSXV: HMR) (OTCQB: HMRFF) has upsized and closed its non-brokered private placement, raising $2,177,570 through the issuance of 1,675,054 units. Each unit includes one common share and one warrant exercisable at $2.00 for 24 months. The company will pay $38,834 in finder's fees and issue 29,872 Broker Warrants. Proceeds will be allocated to: CBPM Lease Payment ($270,000), Guidoni Purchase Payment ($135,000), Research and Development ($243,000), and Operations & Business Development ($1,733,736).
Positive
- Successfully raised $2.17M through private placement
- Significant allocation of $1.73M for Operations & Business Development
- Strategic investment in R&D with $243,000 allocation
Negative
- Potential dilution of existing shareholders through new share issuance
- Warrant exercise could lead to further dilution if exercised
News Market Reaction
On the day this news was published, HMRFF declined 4.04%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that, further to the news release dated October 16, 2024, detailing a non-brokered private placement of up to 1,659,977 units for aggregate gross proceeds of up to
Each Unit consisting of one common share of the Company and one common share purchase warrant (a "Warrant"), with each Warrant being exercisable for one additional common share of the Company at an exercise price of
In connection with the Financing, the Company will pay cash finder's fees of
Use of Proceeds
| Final CBPM Lease Payment | $ 270,000 |
| Guidoni Purchase Payment | $ 135,000 |
| Research and Development | $ 243,000 |
| Operations & Business Development | $ 1,733,736 |
| Fees | $ 38,834 |
| $ 2,177,570 |
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/227799
FAQ
How much did Homerun Resources (HMRFF) raise in its October 2024 private placement?
What is the exercise price and term of the warrants issued in Homerun Resources' private placement?
How will Homerun Resources (HMRFF) use the proceeds from its private placement?
