VR Resources Ltd. announced a non-brokered private placement of flow-through and hard dollar units for proceeds of CAD 2,171,429 on April 4, 2023. The company will issue up to 8,571,429 flow-through units at an issue price of CAD 0.16 per unit for proceeds of up to CAD 1,371,429 and up to 5,714,286 hard dollar units at an issue price of CAD 0.14 per unit for proceeds of up to CAD 800,000. 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 0.23 per common share for a period of 18 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 0.23 per common share for a period of 18 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 April 28, 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.