Vr Resources Closes Second Tranche and Completes $1.2 Million Non-Brokered Private Placement NR-19-18
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
VR RESOURCES CLOSES SECOND TRANCHE AND COMPLETES $1.2 MILLION
NON-BROKERED PRIVATE PLACEMENT
NR-19-18
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.
October 25, 2019, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR; FSE: 5VR; OTCBB: VRRCF) (the “Company” or
“VR”) is pleased to announce that it has closed the second tranche and final tranche of the non-brokered private
placement detailed in news releases dated October 16 and October 21, 2019.
For the second tranche of the private placement, the Company issued 1, 523,333 units at a price of $0.30 for
gross proceeds of $457,000. The Company issued 761,666 share purchase warrant s with each whole warrant
exercisable into a common share at $0. 50 for eighteen months from the date of issuance of the Warrant. The
Company paid finders fees of $24,900 and issued 83,000 warrants exercisable at $0.50 per share for a period of
eighteen months from the closing date.
Aggregate gross proceeds from the private placement is $1,217,000 from the issuance of 3,523,331 common
shares. All securities that were issued are subject to a four month hold from the closing date.
The common share proceeds will be utilized for ongoing exploration expenditures on the Company’s various
mineral properties, the evaluation of new opportunities and for general administrative and corporate purposes.
Use of proceeds from the previously announced flow -through tranche will be for exploration of the Ranoke
property located in the Province of Ontario.
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. Securitie s 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 large, underexplored copper-gold mineral systems in
the western United States and Canada (TSX.V: VRR; Frankfurt: 5VR; OTCBB: VRRCF). It is the continuance of 4
years of exploration in Nevada by a pri vate exploration company , built on the foundation of the diverse
experience and proven track record of its Board in early -stage mineral exploration, discovery and M&A . VR is
well financed for its exploration strategy. 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:
“Michael H. Gunning”
_____________________________
Dr. Michael H. Gunning, PhD, PGeo
President & CEO
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
For general information please use the following:
Website: www.vrr.ca
Email: [email protected]
Phone: Michael Gunning 604-262-1104
Forward Looking Statements
This press release contains forward- looking statements. Forward- looking statements are typic ally 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 plans
to carry out exploration on its properties, carry out property evaluations and to cover administrative expenditures.
Although the Company believes 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 speculat ive.
All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these
materials.
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