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Homerun Resources Inc. Announces Belmonte's Municipality Decree Formalizing the Expropriation of the Land to Be Donated for the Installation of the Company's Industrial Plants in Bahia, Brazil
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - Homerun Resources Inc. (TSXV...
About this update from Homerun Resources Inc.
[{"type":"text","content":"Homerun Resources Inc. Announces Belmonte's Municipality Decree Formalizing the Expropriation of the Land to Be Donated for the Installation of the Company's Industrial Plants in Bahia, BrazilVancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) (\"Homerun\" or the \"Company\") is pleased to announce that the Municipality of Belmonte, in Bahia, Brazil, has issued Decree number 150, dated May 30th, 2025, stating:The expropriation of the rural property called Fazenda São José, located in the Municipality of Belmonte/BA, in the district of Santa Maria Eterna, on the banks of BA982 (near the vicinal junction), with a total area of 64.50ha, registered under registration number 3258, in the Real Estate Registry Office of the District of Belmonte;The property referred to is intended for public need and social interest, under the terms of article 50 , item XXIV, of the Federal Constitution of 1988, with the purpose of implementing the Homerun Brasil Mineração Ltda factory.Figure 1 - map of the expropriated landTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4082/254443_8466fb8354bb1b92_001full.jpgThe expropriation referred to in this Decree shall be made upon prior and fair compensation, in cash, as the case may be and according to the legislation in force. The expropriating entity may promote the provisional possession of the property, under the terms of article 15 of Decree-Law No. 3,365/1941.This Decree was ordered to support the installation of Homerun's Silica Processing Plant and Solar Glass Manufacturing facility with a capacity of 1,000 tons per day, in the Municipality of Belmonte, ensuring the establishment of the entire value chain, from mineral extraction to high value-added final product, in Belmonte, maximizing the socioeconomic and environmental benefits for the State of Bahia. It represents the fulfillments of one of the duties of the Municipality of Belmonte, included in the Memorandum of Understanding (MoU) with CBPM (Companhia Baiana de Pesquisa Mineral), BahiaGás (Companhia de Gás da Bahia), SECTI (Secretaria de Ciência, Tecnologia e Inovação) and the municipality of Belmonte, signed in May 12th, 2025 (see respective press release here).Brian Leeners, C...