Business
Brixton Metals Announces Fully Subscribed Flow-Through Private Placement of up to $6 Million
VANCOUVER, British Columbia, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to
About this update from Brixton Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce a non-brokered private placement offering (the “Offering”) of up to 66,666,667 flow-through units of the Company (each, a “FT Unit”) at a price of $0.09 per FT Unit for gross proceeds of up to $6,000,000. Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one half of one warrant (a “Warrant”). Each whole Warrant comprising the FT Units shall entitle the holder to purchase one common share of the Company at a per share price of $0.12 until the second anniversary of the closing date of the Offering. The securities issued to subscribers in the Offering will be subject to a hold period of four months and one day pursuant to applicable Canadian securities laws. 50% of the proceeds from the sale of FT Shares are proposed to be used to incur “flow through mining expenditures”, and the other 50% of the proceeds are proposed to be used to incur “flow-through critical mineral mining expenditures”, both as defined in the Income Tax Act (Canada), or in such other proportions and amounts as approved by the Board of Directors of the Company upon reviewing all applicable exploration data available to it. The offering is subject to acceptance by the TSX Venture Exchange. Finder's fees in amounts to be determined may be payable to persons who introduce the Company to subscribers to the Offering. On Behalf of the Board of Directors Mr. Gary R. Thompson, Chairman and CEOTel: 604-630-9707 or email: [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or eve...