VANCOUVER, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR; FSE: 5VR), (the "Company"), or ("VR"), announces the augmentation of the non-brokered private placement recently announced on October 28th, 2024, with a flow-through component of $200,000 for expected aggregate gross proceeds up to $450,000. The Company plans to direct the funds immediately into IP geophysics and reconnaissance drilling this fall at it's Empire and Silverback projects in Northern Ontario.
The flow-through component will consist of up to 4,444,444 units (the "FT Units") at a price of $0.045 per FT Unit for gross proceeds of up to $200,000. Each FT Unit consisting of one Flow Through common share ("FT Share") of the Company and one-half of a common share purchase warrant (each whole warrant a "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").
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 ...
