Homerun Resources Inc. Non-Binding Offtake Agreement with Balfar Solar for the Supply of High-Quality Solar Glass & Solar Module JV

Homerun Resources Inc. (TSXV: HMR) (OTCQB: HMRFF) ("Homerun" or the "Company") is pleased to announce that the Company has signed a non-binding offtake agreement with Balfar Solar Indústria Fotoelétrica S/A ("Balfar").

Balfar is an established top-three manufacturer of solar panels in Brazil, with operations in the city of Parnavaí, PR, and currently sources its solar glass needs through imports. Balfar is interested in purchasing the solar glass manufactured in Brazil, by Homerun. 

Homerun is interested on supplying, and Balfar is interested in purchasing, a minimum of 100,000 (one hundred thousand) tonnes of solar glass per year, starting with the startup of production of the Homerun Solar Glass Plant. The initial price for the solar glass is set at USD 750 (seven hundred and fifty dollars) per tonne, Free On Board (FOB).

The parties have also agreed to initiate discussions on a potential Joint Venture (JV) over Balfar's solar module business, with the goal of expanding the resulting Joint Venture's sales of solar modules into the Brazilian Solar Market and through the JV, securing increased vertically integrated sales of Homerun's silica sand and solar glass. The JV also provides a pathway for Homerun's recently announced Perovskite Solar initiatives. Recent Brazilian regulatory and tariff transitions imposed on imported solar modules into Brazil provide a more competitive opportunity for domestic solar module producers.

This Agreement is non-binding and aims to outline the basic terms of the potential supply and JV arrangements between the Parties. It does not create any legal obligations or liabilities for either Party. The Parties agree that binding agreements shall supersede this Agreement, based on the development of the solar module JV and/or once the solar glass plant reaches a Bankable Feasibility Study.

This Agreement, is a crucial element of Phase 3 of the Homerun Strategic Roadmap, aiming to become a fully integrated materials company, scaling revenue across silica, advanced materials, solar and energy storage.

"Homerun is now recognized as a growing vertically integrated solar enterprise, by the key domestic players in the Brazilian solar industry. This Agreement opens the door for our continuing vertical integration into the sector, supporting our value creation strategy," stated Armando Farhate, COO of Homerun.

Balfar Solar Indústria Fotoelétrica S/A | (https://balfarsolar.com.br/

Homerun | www.homerunresources.com