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Homerun Resources Inc. Executes LOI for High-Purity Quartz Silica Sand Supply in Brazil
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Homerun Resources Inc.  ( TS...
About this update from Homerun Resources Inc.
[{"type":"text","content":"Homerun Resources Inc. Executes LOI for High-Purity Quartz Silica Sand Supply in BrazilVancouver, British Columbia--(Newsfile Corp. - May 23, 2023) - Homerun Resources Inc. (TSXV: HMR) (\"Homerun\" or the \"Company\") is pleased to announce that the Company executed a Letter of Intent (LOI) on May 22, 2023 to document the general terms of a Material Supply Agreement (the \"Material Supply Agreement\") between Homerun Resources Inc. (\"HMR\") and the vendor (\"Vendor\") concerning the supply of silica sand and is subject to negotiation and execution of the Material Supply Agreement between the parties. The execution of the Material Supply Agreement will be subject to the following conditions: The purchase price will be US$20.00 per tonne net of recoverable costs and sales taxes and export taxes. The Parties agree to exercise their best efforts to conclude and execute the final form of the Material Supply Agreement within 30 calendar days of the date of this LOI. Each Party obtaining all necessary and appropriate governmental, regulatory, contractual, board of director, shareholder, member and other third-party licenses, permits, approvals and/or consents which are required to execute the Material Supply Agreement. Such other necessary and appropriate conditions as the parties shall mutually agree during their final negotiations of the Material Supply Agreement. Brian Leeners, Director and CEO stated, \"This Supply Agreement is part of the Company's plan to build a globally distributed book of high-purity quartz (HPQ) silica sand supply. By accessing a reliable and abundant source of high purity quartz, we can ensure a stable supply chain and secure a competitive advantage in meeting the increasing global market demands. The Company's plan is to procure HPQ silica through company-owned resources, joint ventures and other collaborations, including open market purchases. The Company is currently in discussions with several additional current and future HPQ silica producers to build regional supply for the Company's global initiatives.\"The Vendor has provided extensive third-party testing that verifies and demonstrates that the raw silica sand grade averages +99.8% SiO2 and contains very low levels of impurities. The Company will now initiate testing on the reduction of the remaining impurities by applying advanced chemicals an...