VR Resources Ltd. announced a non-brokered private placement of flow-through and hard dollar units for proceeds of CAD 800,000 on June 2, 2023. The transaction included participation from two institutional investors. The company will issue up to 2,051,282 flow-through units at an issue price of CAD 0.195 per unit for proceeds of up to CAD 399,999.99 and up to 2,222,222 hard dollar units at an issue price of CAD 0.18 per unit for proceeds of up to CAD 400,000.

Each flow-through Unit consisting of one flow-through common share and one-half of a common share purchase warrant. Each whole Warrant entitling the holder to acquire one additional common share at an exercise price of CAD 0.25 per common share for a period of 36 months from the closing date. Each hard dollar unit consists of one common share and one-half of a common share purchase warrant, with each whole Warrant entitling the holder to acquire one additional common share at an exercise price of CAD 0.25 per common share for a period of 36 months from the closing date of the Financing.

The Company may pay a finder's fee of up to a 6% cash for subscriptions to the financing. The transaction is expected to be close on or before June 30, 2023, and is subject to all regulatory approvals, including the approval of the TSX Venture Exchange. The securities will be subject to a four-month hold period from the date of closing in accordance with applicable securities legislation.