Vr Resources Announces Non-Brokered Private Placement NR21-02
VR RESOURCES LTD.
2300 – 1177 West Hastings Street.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: vrr; www.vrr.ca
VR RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
NR21-02
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
January 15, 2021, Vancouver, B.C.: VR Resources Ltd . (TSX.V: VRR; FSE: 5VR; OTCBB: VRRCF), the (Company), or ( VR), is
pleased to announce that the Company intends to complete a non- brokered private placement ( the “Financing”) of up to
5,000,000 units (the “Units”) at a price of $0.30 per Unit. Each Unit will consist of one common share (“Common Share”) of
the Company and one-half of a common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder
to acquire one additional Common Share at an exercise price of $0. 45 per Common Share for a period of 18 months from
the closing date (“Closing Date”) of the Financing, for gross proceeds of up to $1,500,000.
Certain insiders of the Company may participate in the Financing. The issuance of Units to insiders of the Company pursuant
to the Financing will be considered related party transactions within the meaning of TSX Venture Exc hange Policy 5.9 and
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (MI 61 -101). The Company
intends to rely on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a)
of MI 61-101 in respect of such insider participation, based on a determination that fair market value of the participation in
the Financing by insiders will not exceed 25% of the market capitalization of the Company, as determined in accordance
with MI 61-101.
The Company may pay a commission in cash equal to 6 % o f the value of select proceeds raised under the Financing,
specifically excluding any funds raised from insiders.
VR will use the gross proceeds of the Financing for mineral exploration on its properties in Nevada and Ontario, and for
general administrative costs. In particular, the funds will allow the Company to advance the Reveille silver -copper
property in Nevada to first-pass drilling in 2021, beginning this winter.
Closing Date of the Financing is expected to occur on or around February 5, 2021, and is subject to all regulatory approvals
including the approval of the TSX Venture Exchange. The securities issued in connection with this Financing will be subject
to a four-month hold period from the date of closing in accordance with applicable securities legislation.
The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act ”), or any
U.S. state securities laws, and may not be offered or sold in the “United States” or to “U.S. persons” (as such terms are defined
in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and all applicable state
securities laws or compliance with an exemption from such registration. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer ,
solicitation or sale would be unlawful.
About VR Resources
VR is an emerging junior exploration company focused on greenfields opportunities in copper and gold (TSX.V: VRR;
Frankfurt: 5VR; OTCBB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver -based
private company. The diverse experience and proven track record of its Board in early- stage exploration, discovery and
M&A is the foundation of VR. The Company focuses on underexplored, large -footprint mineral systems in the western
United States and Canada; VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether
by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
VR RESOURCES LTD.
2300 – 1177 West Hastings Street.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: vrr; www.vrr.ca
“Michael H. Gunning”
____________________________
Dr. Michael H. Gunning, PhD, PGeo
President & CEO
For general information please use the following:
Website: www.vrr.ca
Email: [email protected]
Phone: 604-262-1104
Forward Looking Statements
This press release contains forward- looking statements. Forward- looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer
to future events. Forward looking statements in this release, for example include but are not limited to : the Company
completing the proposed Financing, the timing of the closing of said Financing, the Company’s ability to obtain regulatory
approval for the proposed Financing, the Company plans to carry out exploration of its properties in Nevada and Ontario.
Although the Company beli eves that the use of such statements is reasonable, there can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in
such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees
of future performance, and that actual results may differ materially from those in forward-looking statements. Trading in
the securities of the Company should be considered highly speculative.
All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these
materials.
VR RESOURCES LTD.
2300 – 1177 West Hastings Street.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: vrr; www.vrr.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release