VR Resources raises $1.5M, consolidates shares and changes leadership

VR Resources Limited (TSXV: VRR) announced a $1.5 million brokered private placement led by Centurion One Capital Corp., alongside a share consolidation and management change.

The Vancouver-based exploration company plans to sell up to 15 million units at $0.10 each on a post-consolidation basis. Each unit consists of one common share and one warrant exercisable at $0.16 for 36 months. The offering is expected to close around November 14, 2025.

Proceeds will fund exploration activities at the company's New Boston tungsten-molybdenum-copper-silver project and Bonita copper-gold project in Nevada. Specific uses include drill permit preparation for the New Boston property and execution of a drill contract, plus completion of a 3D-array DCIP geophysical survey at the Bonita project.

The company will implement a 5-to-1 share consolidation prior to closing the offering, subject to TSX Venture Exchange approval. With 133.4 million shares currently outstanding, VR Resources expects approximately 26.7 million shares after consolidation, excluding new shares from the offering.

Justin Daley resigned as Chief Executive Officer and President effective October 20, 2025. The board appointed founder and chairman Dr. Michael H. Gunning as President and CEO.

Centurion One Capital will receive an 8% cash commission and broker warrants equal to 8% of units issued. Company insiders and affiliates may acquire up to 50% of the offering units.

The securities will have a four-month-plus-one-day hold period and will be offered in British Columbia, Alberta, Ontario, the United States under securities law exemptions, and other mutually agreed jurisdictions.

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