- VR Resources (VRR) has announced a non-brokered private placement for gross proceeds of up to $4,000,000
- The company will issue up to 25,000,000 units for $0.16 per unit
- VR will use the gross proceeds to finance continued drilling at its Hecla-Kilmer critical metal discovery
- VR Resources Ltd is an established junior exploration company
- VR Resources (VRR) opened trading at C$0.185
VR Resources (VRR) has announced a non-brokered private placement for gross proceeds of up to $4,000,000.
The company will issue up to 25,000,000 units for $0.16 per unit. Each unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share for a period of 18 months from the closing date.
The company may pay a cash finders fee in relation to the financing.
VR will use the gross proceeds to finance 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 will be subject to a four-month hold period.
VR Resources Ltd is an established junior exploration company focused on greenfields opportunities in copper and precious metals.
VR Resources (VRR) opened trading at C$0.185.