Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun") 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 $2,157,970, the Company will now issue 1,675,054 units (the "Units"), for aggregate gross proceeds of $2,177,570.
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 $2.00 for 24 months from the date of issue, subject to the right of the Company to accelerate the exercise period to 30 days if, after the expiry of the 4 month hold, common shares of the Company close at or above $3.00 for 10 consecutive trading days.
In connection with the Financing, the Company will pay cash finder's fees of $38,834 and 29,872 Broker Warrants to Red Cloud Securities Inc., Haywood Securities Inc., Canaccord Genuity Corp. and Leede Financial Inc. All securities issued pursuant to the Financing are subject to a four-month and one-day hold period.
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
