02:10 PM EDT, 10/09/2024 (MT Newswires) -- Homerun Resources ( HMRFF ) on Wednesday said it intends to raise up to $1 million in a private placement of share units.

The non-brokered placement consists of up to 769,231 units priced at $1.30 each and made up of a share and a 24-month warrant to buy a second share for $2.00.

Proceeds will be used for general working capital and for the development of Homerun's HPQ silica projects.

Homerun shares were last seen down $0.07 to $1.23, on the TSX Venture Exchange.

Price: 1.23, Change: -0.07, Percent Change: -5.38