Business
Homerun Resources Inc. Closes $6M Financing with Institutional Investor Sorbie Bornholm LP
Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - Homerun Resources Inc. (TSXV:...
About this update from Homerun Resources Inc.
[{"type":"text","content":"Homerun Resources Inc. Closes $6M Financing with Institutional Investor Sorbie Bornholm LPVancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) (\"Homerun\" or the \"Company\") is pleased to announce that it has closed its financing, previously announced on June 16, 2025, with an arm's length institutional investor, Sorbie Bornholm LP (the \"Investor\") for aggregate proceeds of CDN$6,000,000 (the \"Offering\") at a price of $1.00 per unit (\"Unit\").Pursuant to the terms and conditions of a Sharing Agreement and other supporting agreements between the parties, the proceeds have been deposited into escrow and the release of the shares, warrants and cash shall be as follows:The Investor deposited CDN$6,000,000 into a third-party escrow account.The Company will issue 6,000,000 shares into escrow and the warrants will be issued to the Investor on each monthly settlement date. Over a 24-month period, the cash and shares will be released from escrow monthly based on the Company's market price at each release date. The Investor will immediately receive upon closing 1,500,000 warrants exercisable at CDN$1.18 for three (3) years.The Investor will also receive up to 4,960,000 additional warrants, released monthly over 24 months, priced at a 20% premium to the 5-day VWAP at the time of each issuance and exercisable for three (3) years from issuance.The Company paid the Investor a corporate finance fee of $360,000 payable via the issuance of 360,000 Units and a due-diligence deposit of $100,000 payable via the issuance of 100,000 Units, both on the same terms as the Units and subject to the same escrow release schedule.SHARING AGREEMENTThe Units to be issued under the Offering, representing $6,000,000 will be held pursuant to a sharing agreement between the Investor and the Company (the \"Sharing Agreement\"). The Sharing Agreement provides that the Company's economic interest will be determined in 24 monthly settlement tranches as measured against the Benchmark Price (as defined herein). If, at the time of settlement, the Settlement Price (determined monthly based on a volume-weighted average price for 20 trading days prior to the settlement date) (the \"Settlement Price\") exceeds the benchmark price of $1.178 (the \"Benchmark Price\"), the Company shall receive mor...