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Homerun Resources Inc. Signs LOI for the Acquisition of Additional Belmonte District Silica Mineral Rights
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Homerun Resources Inc. 
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About this update from Homerun Resources Inc.
[{"type":"text","content":"\nHomerun Resources Inc. Signs LOI for the Acquisition of Additional Belmonte District Silica Mineral RightsVancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Homerun Resources Inc.  (TSXV: HMR) (OTCQB: HMRFF) (\"Homerun\" or the \"Company\") is pleased to announce that the Company has signed a letter of intent (LOI) with Guidoni Brasil S.A. (Guidoni), dated July 25th, 2024, for the acquisition of the Guidoni exploitation rights granted under a lease agreement with Companhia Bahiana de Pesquisa Mineral (CBPM) in the municipality of Belmonte, Bahia, Brazil.The purpose of the LOI, is the acquisition, by Homerun, of the rights to exploit the following mining tenements: 871.960/1992, 870.462/1999, 870.463/1999 and 873.387/2007, as well as the definitive transfer of all other rights and obligations arising from bidding notice No. 004/2020 and lease agreements # 018/2022 and 026/2022, granted to Guidoni by CBPM.Brian Leeners, CEO of Homerun stated, \"We have stated from the beginning, and for obvious reasons, that we would be continually focused on consolidating control over the Belmonte Silica District, and we continue to execute on that mandate. This process requires a major effort and considerable patience in building beneficial relations and the negotiation of terms and I want to thank the Brazilian Team, for relentless efforts in this regard on behalf of Homerun. Our Belmonte Silica District consolidation efforts are continuing, to the benefit of our shareholders.\"\"Homerun is improving what was already very, very good. These additional assets, in the same geological formation of our existing assets, will increase our global competitive benefit from controlling one of the best HPQ silica sand districts in the world\", stated Armando Farhate, COO of Homerun.The total required payments under the terms of the Acquisition will be R$2,500,000 reais, to be advanced, as follows:R$500,000 within twenty-four hours of the execution of the definitive agreement for the transfer of the Guidoni rights and obligations.R$2,000,000, paid over four installments, maturing, one by one, every 6 months, from the date of payment of the first installment.The parties will also require CBPM to consent to the transfer to Homerun, of the Guidoni agreement with CBPM, which includes all the rights and obligations arising from...