VANCOUVER, British Columbia, Jan. 07, 2026 (GLOBE NEWSWIRE) -- VR Resources Limited ("VR" or the "Company", ("VR" or the "Company", TSXV:VRR) announces updated terms for its brokered private placement with Centurion One Capital Corp. (the "Lead Agent") as lead agent and sole bookrunner (the "Offering") and concurrent share consolidation (the "Consolidation") as previously described in the Company's news releases dated October 20, 2025 and December 22, 2025.
Under the revised terms of the Offering, the Company is now expected to raise aggregate gross proceeds of up to $500,000 through the sale of units (the "Units"). Each Unit will now be offered at an issue price of $0.16 and will consist of one common share in the authorized share structure of the Company (each a "Common Share") of the Company and one Common Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of $0.20 for a period of 36 months from the date of issuance.
The Offering remains conditional upon completion of a consolidation of its issued and outstanding common shares which will now be completed on a basis of ten (10) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation"), subject to approval of the TSX Venture Exchange (the "Exchange"). The Company currently has 133,443,467 shares issued and outstanding, and it is anticipated that immediately following the Consolidation, excluding Shares to be issued in connection with the Offering, the Company will have approximately 13,344,346 shares issued and outstanding, prior to rounding of fractional Shares. The Consolidation is expected to occur on or around January 15, 2026. The issue price, warrant exercise price, and securities issuable pursuant to the Offering are disclosed on a post-Consolidation basis.
In connection with the Offering, a commission remains payable to the Lead Agent of 8% of the aggregate cash proceeds received from the sale of the Units and a number of non-transferable broker warrants (the "Broker Warrants") equal to 8% of the aggregate number of Units issued under the Offering in accordance with the policies of the TSX Venture Exchange (the "Exchange"). The Broker Warrants may be exercised by the Lead Agent into Units with identical terms as the Offering and will expire three ...
