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Brixton Metals Completes $1.0 million Financing
/ NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES/ ...
About this update from Brixton Metals Corporation
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S.\n NEWSWIRE SERVICES/\n\n\nVANCOUVER, April 26, 2012 /CNW/ - Brixton Metals Corporation (TSXV: BBB)\n (the \"Company\" or \"Brixton\") announces that it has closed and is over-subscribed on its\n non-brokered private placement financing (the \"Private Placement\") which was announced April 10, 2012. The Private Placement consists of\n 5,365,000 units (\"Units\") at a price of $0.14 per Unit and 1,559,059 flow-through shares of\n Brixton (the \"FT Shares\") at a price of $0.17 per FT Share for aggregate gross proceeds of\n $1,016,140. Each Unit consists of one common share and one-half of one\n transferable common share purchase warrant (each whole warrant, a \"Warrant\") with each Warrant exercisable by the holder into one common share of\n the Company at a price of $0.24 per share for a period of 24 months\n from the closing date (unless accelerated in accordance with its\n terms). The securities issued pursuant to the Private Placement are\n subject to a hold period of four months and one day from the closing\n date.  Finder's fees totalling approximately $14,400 in cash were paid\n in accordance with the policies of the TSX Venture Exchange. \n\n\nThe proceeds from the Private Placement will be used to fund exploration\n activities at the Company's Thorn property, as well as associated\n general and administrative expenses.  Exploration will focus on the\n Oban Breccia Zone and the area around drill hole THN11-60. Hole 60\n which was drilled during the Company's 2011 drill program returned 95.08 metres of 628 g/t Ag, 1.71 g/t Au, 3.31% Pb and 2.29% Zn and 0.12% Cu including 9.25 metres of 2,984 g/t Ag, 3.04 g/t Au, 0.53% Cu, 11.65% Pb and 3.42% Zn (as previously stated in the News Release dated January 5th 2012).  In addition, Oban hole THN11-57 intersected 37.72 metres of\n 2.08 g/t Au, 60.8 g/t Ag, 0.46% Cu, 0.55% Zn and 0.25% Pb including 7.80 metres of 6.13 g/t Au, 197 g/t Ag, 1.38% Cu, 0.49% Pb and 0.38% Zn.\n\n\nAbout Brixton Metals Corporation\n\n\nBrixton is an exploration company engaged in the acquisition and\n exploration of precious metal assets and advancing them to feasibility.\n The Thorn Project is Brixton's flagship property and current activity\n is centered on high grade silver-gold-copper-lead-zinc-bearing bre...