Business
Brunswick Exploration Closes Upsized Non-Brokered Private Placement of $2.1 M
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Brunswick Exploration, Inc.
[{"type":"text","content":"Brunswick Exploration Closes Upsized Non-Brokered Private Placement of $2.1 M\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MONTRÉAL, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (“BRW” or the \"Corporation\") is pleased to announce the closing of its previously announced non-brokered private placement (the \"Offering\") with aggregate gross proceeds of approximately $2,121,542 from the sale of 12,123,097 common shares of the Corporation sold as “flow-through shares” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) and the Taxation Act (Québec) (the “Québec Tax Act”) (each, a “FT Share”) at an updated price of $0.175 per FT Share. Killian Charles, President & CEO, commented: “With the Mirage maiden resource estimate expected in the first two weeks of January and the closing of this financing, BRW will have an aggressive start to 2026. Following the release of the MRE, we will be returning to drill the recent discovery at Anatacau with a significantly expanded drill program before continuing with prospecting in Saudi Arabia and drilling at Mirage, both expected to begin in the second quarter. We wish happy holidays to BRW shareholders and invite them to pay close attention to BRW press releases in the new year.” In connection with the Offering, the Corporation paid finder's fees to arm's length third parties in an amount of $62,726.24. Insiders of the Corporation participated in the Offering and were issued an aggregate of 314,200 FT Shares. Such participation in the Offering is a \"related party transaction\" as defined in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (\"Regulation 61-101\"). The Offering is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for such securities by insiders exceed 25% of the Corporation's market capitalization. The Offering remains subject to the final approval of the TSX Venture Exchange (“TSX-V”). The FT Shares are subject to a statutory four month and one day hold period. The FT Shares have not been, and...