Homerun Resources Inc. Closes $1 Million Private Placement


Vancouver, British Columbia--(Newsfile Corp. - May 1, 2024) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that, further to its April 23, 2024 news release, it has received approval from the TSX Venture Exchange to close their private placement financing (the "Financing") for aggregate gross proceeds of $1,000,650.

The Company has issued 2,001,300 units (the "Units"), 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 $0.75 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 $1.50 for 10 consecutive trading days.

Three (3) insiders subscribed to the Financing for $100,000 or 200,000 Units, that portion of the Financing a "related party transaction" as such term is defined under MI 61-101 - Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company's market capitalization.

Use of Proceeds

Belmonte Silica District Development $ 400,000
Research and Development $ 150,000
Operations & Business Development $ 444,198
Fees $ 6,452
  $ 1,000,650


In connection with the Financing, the Company has paid cash finder's fees of $6,452.00 to Red Cloud Securities Inc. All securities issued pursuant to the Financing are subject to a four-month and one-day hold period.

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 & Directorbrianleeners@gmail.com / +1 604-862-4184 (WhatsApp)


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/207670

SOURCE Homerun Resources Inc.

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