Homerun Resources Inc. announced that the Company has on May 21, 2024 executed a Letter of Intent (LOI), between Homerun and Si&Mex Solutions do Brasil Limitada (Si&Mex). The primary focus of the partnership between Homerun and Si&Mex is for Homerun to provide Si&Mex with up to 365.000 tonnes per year of solar glass supply, under agreed specifications and commercial terms. The Parties will jointly develop plans for a High Purity Solar Crucible Manufacturing plant for Ingot and Wafer manufacturing in the Silica to Solar Supply Chain. Si&Mex plans to produce up to 5GW in annual production (circa 10 to 12 million Solar Modules including bi-facial glass-on-glass) in Camacari, Bahia, Brazil starting in 2024.

With 113,147 MW of solar capacity in the pre-construction phase, Brazil ranks second to China (241,744 MW) in solar pre-construction globally (1). It is the mutual intention for both companies to explore opportunities in two main partnership pathways: Technical Collaboration and the Commercial Supply of Glass from Homerun to the Si&Mex Solar Manufacturing facility in Camacari, Bahia, Brazil. Investigate further synergies between the companies and create a detailed partnership operating plan with specific initiatives, timelines, and bilateral compensation.

Specifically, Homerun and Si&Mex agree to collaborate on the following: Negotiate and sign a long-term Supply Purchase Agreement for up to 365.000 (three hundred and sixty-five thousand) tonnes of Solar Glass under agreed specifications and commercial conditions. Develop plans for a High Purity Solar Crucible Manufacturing plant for Ingot and Wafer manufacturing in the Silica to Solar Supply Chain. Develop a mutual CO2 footprint and plant designs and processes based on high levels of Sustainability, that will support the Parties joint initiative to produce the Greenest Solar Module in the world on the Si&Mex Manufacturing site.

Facilitate access to the Parties operations to establish manufacturing integration leverage. Further partnership opportunities include: Joint Patents and IP in High Purity Silica Crucible manufacturing. Innovative Solar Module and Solar Glass manufacturing techniques.

Optimization and development of new technology routes for glass applications in the Solar Supply Chain. Cooperative exploration of overseas opportunities.