Brixton Metals Announces Fully Subscribed Flow-Through Private Placement of up to $6 Million
13 11월 2024 - 9:30PM
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: info@brixtonmetals.com
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 event “may”, “might”, “could”, “should”, or
“will” be taken or occur, or other similar expressions. All
statements other than statements of historical fact included herein
are forward-looking statements, including, without limitation,
statements regarding potential quantity and/or grade of minerals,
potential size and expansion of a mineralized zone, proposed timing
of exploration and development plans, proposed timing for
completion of the Private Placement, the expected number of Common
Shares to be issued and gross proceeds of the Private Placement,
and the use of proceeds of the Private Placement. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following
risks: the need for additional financing; operational risks
associated with mineral exploration; fluctuations in commodity
prices; title matters; the fact that the Private Placement may not
close as scheduled or at all, and the additional risks identified
in the annual information form of the Company or other reports and
filings with the TSXV and applicable Canadian securities
regulators. Forward-looking statements are made based on
management’s beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to
update forward-looking statements if these beliefs, estimates and
opinions or other circumstances should change, except as required
by applicable securities laws. Investors are cautioned against
attributing undue certainty to forward-looking statements.
Brixton does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws, unless an exemption from such registration is
available.
Not for distribution to United States Newswire
Services or for dissemination in the United States
Brixton Metals (TSXV:BBB)
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Brixton Metals (TSXV:BBB)
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