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Homerun Resources Inc. Files for Approval of $3 Million Financing; Updates $6 Million Institutional Financing
Newsfileยท2025-07-24 21:36

Financing Update - Homerun Resources Inc. has filed for conditional approval for a $3 million private placement financing, with each unit priced at $1.00 [1] - Upon receiving Exchange approval, the first tranche will close for gross proceeds of $1,568,000, issuing 1,568,000 units, each consisting of one common share and one warrant exercisable at CA$1.30 for 24 months [2] - Proceeds from the financing will be allocated for project payments, ongoing development, and general working capital, with cash finder's fees of $28,455 and 28,455 non-transferable broker warrants to be paid [3] Insider Participation - An insider subscribed to the financing for $100,000, which constitutes a related party transaction, and the company is relying on exemptions from formal valuation requirements as the transaction's fair market value does not exceed 25% of the company's market capitalization [4] Institutional Financing Update - The company is in the final review and closing processes for a previously announced $6 million institutional financing with an investor [5] Company Overview - Homerun Resources Inc. is focused on green energy solutions through advanced silica technologies, controlling the full industrial vertical from raw material extraction to solar, battery, and energy storage solutions [6] - The company is positioned to capitalize on high-growth global energy transition markets with a three-phase development plan that has achieved key milestones, including government partnerships and breakthrough intellectual property in advanced materials processing [11] - Homerun maintains a commitment to ESG principles, utilizing sustainable production technologies and aiming to deliver shareholder value through strategic execution in the energy transition [12]