Mr. Gary Thompson reports
BRIXTON METALS ANNOUNCES PRIVATE PLACEMENT OF UP TO $3,000,000
Brixton Metals Corp. has arranged a non-brokered private placement financing of up to $3-million through the issuance of any combination of common shares of the company, flow-through shares of the company and charitable flow-through shares of the company. The shares will be priced at 20 cents per share and the FT shares will be priced at 24 cents per FT share. The charitable FT shares are priced at 29 cents per charitable FT share.
Chairman and chief executive officer of Brixton Metals Gary R. Thompson stated: "We are pleased with the exploration results from the 2019 season, from which some results are still pending. While we anticipate ending 2019 with more than $3-million in cash, this financing will allow us to effectively plan for our 2020 exploration programs. These funds will give us the potential to materially advance select wholly owned projects providing the best position from which to create shareholder value."
All securities issued pursuant to this private placement will be subject to a four-month-and-one-day hold period. The private placement is subject to acceptance by the TSX Venture Exchange.
The closing date for the private placement is scheduled to occur on or before Nov. 27, 2019. The company may pay a finder's fee in respect of certain subscribers in accordance with the policies of the TSX Venture Exchange.
The company may issue securities under the private placement in accordance with the provisions of applicable prospectus exemptions available to existing securityholders, if there is interest. Any existing shareholders of the company interested in participating in the private placement should contact the company. The private placement is not subject to a minimum and the company will provide an update on its intended use of proceeds, including approximate amounts, once subscriptions are confirmed.
The use of proceeds shall be for exploration expenditures on Brixton's wholly owned exploration projects and for general working capital.
About Brixton Metals Corp.
Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility.
We seek Safe Harbor.
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