VR Announces $450K Non-Brokered Private Placement to Commence Exploration on Empire and Silverback Gold - Copper Projects in Ontario

VR Announces $450K Non-Brokered Private Placement to Commence Exploration on Empire and Silverback Gold - Copper Projects in Ontario

Benzinga
October 28, 2024

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VANCOUVER, British Columbia, Oct. 28, 2024 (GLOBE NEWSWIRE) -- VR Resources Ltd. ((TSX.V: VRR, FSE: 5VR, OTCQB:VRRCF), (the "Company"), or ("VR"), is pleased to announce the launch of a non-brokered private placement for aggregate gross proceeds of up to $400,000 (the "Financing").

The Financing is for hard dollars and will consist of the issuance of up to 10,000,000 units (the "HD Units") at a price of $0.045 per HD Unit for gross proceeds of up to $450,000. Each HD Unit will consist of one common share of the Company and one-half of a common share purchase warrant (the "HD Warrants"), with each whole HD Warrant entitling the holder to acquire one additional common share at an exercise price of $0.07 per common share for a period of 18 months from the closing date ("Closing Date") of the Financing.

The Company may pay a fee to eligible finders of up to 6% cash for subscriptions to the Financing.

The Closing Date for the Financing is expected to be on or about November 30, 2024, and is subject to all regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued in connection with this Financing will be subject to a four-month and a day hold period from the Closing Date in accordance with applicable securities legislation.

Certain insiders of the Company may participate in the Financing. The issuance of HD Units to insiders of the Company pursuant to the Financing will be considered related party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument ...

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