- VR Resources ( OTCQB:VRRCF ) announces a non-brokered private placement for gross proceeds of up to $4M.
- The financing will consist of 25M units at a price of $0.16/unit for gross proceeds of up to $4M, with each unit consisting of one common share of the company and one-half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of $0.25/common share for a period of 18 months from the closing dateof the Financing.
- The company may pay up to a 6% cash finders fee in relation to the financing.
- Gross proceeds of the Financing will be used for its mineral exploration business, and more specifically to solidify the company’s plan for continued drilling at its Hecla-Kilmer critical metal discovery in northern Ontario.
- The financing is expected to Close on or before September 30, 2022.
- The securities issued in connection with this Financing will be subject to a four-month hold period from the date of closing.
For further details see:
VR Resources to raise $4M in stock and warrants offering