Business
Homerun Resources Inc. Closing of Halocell Europe Acquisition
Vancouver, British Columbia--(Newsfile Corp. - March 6, 2025) - Homerun Resources Inc. (TSX...
About this update from Homerun Resources Inc.
[{"type":"text","content":"Homerun Resources Inc. Closing of Halocell Europe AcquisitionVancouver, British Columbia--(Newsfile Corp. - March 6, 2025) - Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) (\"Homerun\" or the \"Company\") is pleased to announce that further to the Company's News Release of December 16, 2024, Homerun has closed the Acquisition of Halocell Europe SRL (Halocell Europe) from Halocell Energy. Halocell Europe will undergo a name change to Homerun Energy SRL.ACQUISITION TERMSThe consideration which has been paid by Homerun to Halocell Energy for the Acquisition:(a) 1,100,000 common shares of Homerun (the \"Consideration Shares\"); and(b) AU$600,000 invested in Halocell Energy Shares (5,000,000).The Consideration Shares issued by the Company are subject to the following escrow restrictions:(a) no Consideration Shares can be sold for four months after issue;(b) after the four-month escrow period, the Consideration Shares are restricted to selling a maximum of 100,000 shares per month; and(c) Halocell Energy must give Homerun 30 days' notice of its intention to sell Consideration Shares.The Halocell Energy Shares purchased by the Company are subject to the following escrow restrictions:(a) no Halocell Energy Shares can be sold for four months after issue;(b) after this four-month escrow period, Homerun is restricted to selling a maximum of 500,000 shares per month; and(c) Homerun must give Halocell Energy 30 days' notice of its intention to sell shares.Under the terms of the acquisition, Halocell Energy has granted Halocell Europe a non-exclusive, non-transferable, royalty free, perpetual licence to use and exploit the Patent Rights of Halocell Energy.Further, the Company has granted 2.1 million stock options to officers and consultants of the company. The options have an exercise price of $1.50 per share, expire five years from the date of the grant and are subject to TSX Venture Exchange approval.The Company also announces that the 7,514,000 warrants issued under the $0.10 Unit financing in March 2023 and exercisable at $0.20, have been exercised. About Homerun (www.homerunresources.com)Homerun (TSXV: HMR) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Compa...