VR Resources Closes First Tranche of Non-Brokered Private Placement For Gross Proceeds of $1 Million
August 30 2022 - 4:30PM
VR Resources Ltd. (
TSX.V: VRR; FSE: 5VR; OTCQB:
VRRCF) (the “Company” or “VR”) is pleased to announce that
it has closed the first tranche its previously announced
non-brokered private placement (“Financing”), consisting of
6,443,750 units (“Units”) at a price of
$0.16 per Unit for total gross proceeds of
$1,031,000.
Each Unit consists of one common share of the
Company and one-half of a common share purchase warrant. Each whole
warrant will entitle the holder to acquire one additional common
share at an exercise price of $0.25 per common
share for a period of 18 months from the closing
date of the Financing.
In connection with the Financing, the Company
paid cash fees of $11,940 to certain finders.
The securities that were issued under the
Financing are subject to a four month hold period under Canadian
securities law.
VR will use the net proceeds of the Financing
for its mineral exploration business, including active exploration
on various mineral properties held in Ontario, Canada, and Nevada,
USA.
The securities have not been registered
under the U.S. Securities Act of 1933, as amended (the “U.S.
Securities Act”), or any U.S. state securities laws, and may not be
offered or sold in the “United States” or to “U.S. persons” (as
such terms are defined in Regulation S under the U.S. Securities
Act) without registration under the U.S. Securities Act and all
applicable state securities laws or compliance with an exemption
from such registration. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any state in which such
offer, solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD OF
DIRECTORS:
“Michael H.
Gunning”_____________________________Dr. Michael H.
Gunning, PhD, PGeoPresident & CEO
For general information please use the following:
Website: |
www.vrr.ca |
|
Email: |
info@vrr.ca |
|
Contact: |
Michael Gunning, CEO, @ mgunning@vrr.ca; |
Work: 604-262-1104 |
About VR Resources
VR is an established junior exploration company
focused on greenfields opportunities in critical metals, copper and
gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the
continuance of 4 years of active exploration by a Vancouver-based
private company. The diverse experience and proven track record of
its Board in early-stage exploration, discovery and M&A is the
foundation of VR. The Company focuses on underexplored,
large-footprint mineral systems in the western United States and
Canada. VR owns its properties outright and evaluates new
opportunities on an ongoing basis, whether by staking or
acquisition.
The Company continues its normal course of
business in 2022 within the framework of modified exploration
programs in response to the COVID-19 pandemic, with the goal of
ensuring the health and safety of staff and project personnel.
Forward Looking Statements
This press release contains forward-looking statements.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions or are those which, by their nature, refer to
future events. Forward looking statements in this release, for
example include but are not limited to the Company plans to carry
out exploration on its various mineral properties held in Ontario,
Canada, and Nevada, USA.
Although the Company believes that the use of
such statements is reasonable, there can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking
statements by the Company are not guarantees of future performance,
and that actual results may differ materially from those in
forward-looking statements. Trading in the securities of the
Company should be considered highly speculative.
All of the Company’s public disclosure filings
may be accessed via www.sedar.com and readers are urged to review
these materials.
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
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