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Homerun Resources Inc. — Capital/Financing Update 2021
Sep 9, 2021
43255_rns_2021-09-09_a8f89235-c41b-4d21-a460-74ea19485f79.pdf
Capital/Financing Update
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September 9, 2021
TSX-V Symbol: HMR.H
HOMERUN RESOURCES INC.
HOMERUN SETTLES $856,460 IN DEBT
Vancouver, B.C.: Homerun Resources Inc. (“ HMR ” or the “ Company ”) (NEX Symbol: HMR.H) announces that it has received TSX Venture Exchange (the “Exchange”) approval to settle outstanding loan obligations of $138,728.17 through the issuance of 1,387,282 $0.10 shares and accounts payable obligations of $717,731.65 through the issuance of 7,177,317 $0.10 shares. (the “Debt Settlement”).
The Debt Settlement includes six (6) insiders or related parties of the Company totaling $668,028.57 of debt for the issuance of 6,680,286 $0.10 shares, that portion of the Debt Settlement a “related party transaction” within the meaning of TSX Venture Exchange Policy 5.9 of the and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI-61-101”). In connection with the participation of the insiders, the Company intends to rely upon the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of the participation does not exceed twenty-five percent (25%) of the market capitalization of the Company (as determined under MI 61-101).
All securities issued in connection with the shares-for-debt transaction will be subject to a statutory hold period of four months from the date of issuance.
On behalf of the Board of Directors of Homerun Resources Inc.
"Brian Leeners"
Brian Leeners, CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Brian Leeners, CEO and Director [email protected]
Greg Pearson, Corporate Development [email protected] 1-250-545-1299