logo-loader
viewVR Resources Ltd

VR Resources to raise up to $440,000 via a non-brokered private placement to advance exploration in Nevada and Ontario

The private placement will be of up to 2,000,000 units at a price of $0.22 each, with each unit consisting of one common share of the company and one-half of a common share purchase warrant

VR Resources Ltd -
Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of $0.40 per common share for a period of 18 months

VR Resources Ltd. (CVE:VRR) (OTCBB:VRRCF) has announced plans to raise up to $440,000 via a non-brokered private placement of up to 2,000,000 units at a price of $0.22 each. 

The company said it will use the gross proceeds for mineral exploration on its properties in Nevada and Ontario, and for general administrative costs.

Each Unit under the placement will consist of one common share of the company and one-half of a common share purchase warrant.

Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of $0.40 per common share for a period of 18 months from the closing date of the financing.

The group pointed out that certain insiders of the company intend to participate in the financing, adding that, based on a determination that fair market value, the participation of insiders will not exceed 25% of the market capitalization of the company.

The company also said it may pay a commission of 6% on select proceeds raised under the financing, either as cash or as the percentage of units sold in common shares.

The closing date of the financing is expected to occur on or before August 30, 2019 and is subject to all regulatory approvals including the approval of the TSX Venture Exchange. 

Contact Jon Hopkins at [email protected]

Quick facts: VR Resources Ltd

Price: 0.315 CAD

TSX-V:VRR
Market: TSX-V
Market Cap: $18.66 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of VR Resources Ltd named herein, including the promotion by the Company of VR Resources Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

VR Resources sees great untapped opportunity at Big Ten project in Nevada

VR Resources (CVE:VRR-OTC: VRRCF) President and CEO Michael Gunning sat down with Steve Darling from Proactive Vancouver to discuss the latest geo testing done on their Big Ten property in Nevada. Gunning shared some photos that illustrate why he is excited at the exploration opportunities of...

on 10/03/2019

2 min read