Business
Brunswick Exploration Completes Brokered Private Placement for Gross Proceeds of C$3.5 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from Brunswick Exploration, Inc.
[{"type":"text","content":"Brunswick Exploration Completes Brokered Private Placement for Gross Proceeds of C$3.5 Million\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES\n \n\n OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n MONTREAL, May 30, 2025 (GLOBE NEWSWIRE) --\n \n Brunswick Exploration Inc.\n \n (“\n \n Brunswick\n \n ” or the “\n \n Corporation\n \n ”) (TSX-V: BRW, OTCQB: BRWXF) is pleased to announce the closing of its previously announced private placement (the \"\n \n Offering\n \n \") for aggregate gross proceeds of C$3,500,000, which includes the full exercise of the agents’ option for proceeds of C$1,000,000. Under the Offering, the Corporation sold (i) 12,980,769 units of the Corporation (the “\n \n LIFE Units\n \n ”) at a price of C$0.13 per LIFE Unit for gross proceeds of C$1,687,500 from the sale of LIFE Units, and (ii) 12,083,333 units of the Corporation (the “\n \n Non-LIFE Units\n \n ”, and collectively with the LIFE Units, the “\n \n Offered Securities\n \n ”) at a price of C$0.15 per Non-LIFE Unit for gross proceeds of C$1,812,500 from the sale of Non-LIFE Units. An aggregate of 25,064,102 Offered Securities were sold under the Offering.\n \n\n Each LIFE Unit consists of one common share of the Corporation (each, a “\n \n Unit Share\n \n ”) and one- half of one common share purchase warrant (each whole warrant, a “\n \n LIFE Warrant\n \n ”). Each whole LIFE Warrant entitles the holder thereof to purchase one common share of the Corporation (each, a “\n \n Warrant Share\n \n ”) at a price of C$0.20 at any time on or before May 30, 2028.\n \n\n Each Non-LIFE Unit consists of one Unit Share and one common share purchase warrant (each, a “\n \n Non-LIFE Warrant\n \n ”). Each Non-LIFE Warrant entitles the holder thereof to purchase one Warrant Share at a price of C$0.25 at any time on or before May 30, 2028.\n \n\n Red Cloud Securities Inc. acted as co-lead agent and sole bookrunner along with Canaccord Genuity Corp. (collectively, the “\n \n Agents\n \n ”), as co-lead agent, in connection with the Offering. In consideration for their services, the Agents received an aggregate cash commission of C$181,515 and 588,960 non-transferable broker warrants (the “\n \n Br...