Business
Brunswick Exploration Announces $3 Million Non-Brokered Private Placements
MONTREAL, April 20, 2022 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (“Brunswick” or the “Corporation”) (TSX-V : BRW) is pleased to announce non-brokered pri
About this update from Brunswick Exploration, Inc.
[{"type":"text","content":" MONTREAL, April 20, 2022 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (“Brunswick” or the “Corporation”) (TSX-V : BRW) is pleased to announce non-brokered private placements of up to $4 million, consisting of a combination of (i) 6,000,000 units of the Corporation (each, a \"Unit\") at a price of $0.175 per Unit and (ii) 10,000,000 Canadian flow-through shares of the Corporation (the “FT Shares”), at a price of $0.20 per FT Share (collectively, the \"Offerings\"). Each Unit will consist of one common share of the Corporation (each, a \"Common Share\") and one-half of one common share purchase warrant of the Corporation (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.23 for a 24-month period following the closing date of the Offerings. The net proceeds from the Offerings will be used for the exploration of the newly acquired lithium projects in Quebec, New Brunswick and Nova Scotia, as well as general corporate purposes. The Offerings are available to accredited investors and existing shareholders of the Corporation, subject to certain limitations outlined below, to ensure all shareholders may have the opportunity to participate. The Offerings are expected to close on or about May 11, 2022 or such other date as the Corporation may determine. The Offerings are conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offerings will have a hold period of four months and one day from the closing date of the Offerings, in accordance with applicable securities laws. Additional information for existing shareholders relying on the Existing Shareholder Exemption Shareholders of record of the Corporation as at April 22, 2022 (the “Record Date”), who are not accredited investors, are eligible to participate in the Offerings under the “Existing Shareholder Exemption”, available under Canadian securities laws. The Existing Shareholder Exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period from the date of closing of the Offerings, unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is ...