Brixton Metals Announces Closing Of Final Tranche Of Private Placement For Aggregate Gross Proceeds Of $9.1 Million
Brixton Metals Announces Closing Of Final Tranche Of Private Placement For Aggregate
Gross Proceeds Of $9.1 Million
Not for distribution to United States Newswire Services or for dissemination in the United States
VANCOUVER, British Columbia, August 27, 2026 - Brixton Metals Corporation (TSX-V: BBB,
OTCQX: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has closed a
third and final tranche of its previously announced non-brokered private placement offering of
units of the Company (each, a “ Unit”), pursuant to which the Company issued 264,800 Units
at a price of $0.66 per Unit for aggregate gross proceeds of $174,768.00 (the “Unit Offering”).
In total, the Company has raised gross proceeds of $9,131,422.02 across all tranches of the
Unit Offering and its previously announced non-brokered private offering of national flow -
through shares in the capital of the Company.
Each Unit consists of one common share in the capital of the Company (a “ Common Share”)
and one Common Share purchase warrant (each, a “Warrant”), with each Warrant exercisable
to purchase one additional Common Share until August 27, 2029 at an exercise price of $0.90.
The Warrants are subject to an accelerated expiry if, any time after the date that is four months
and one day after the closing date of the Unit Offering, the closing price of the common shares
of the Company (the “Shares”) on the TSX Venture Exchange (“TSXV”), or such other market
as the Shares may trade from time to time, is or exceeds $1.40 for ten (10) consecutive trading
days, in which event the holders of the Warrants may, at the Company’s election, be given
notice and the Company will issue a press release announcing that the Warrants will expire ten
(10) days following the date of such press release. The Warrants may be exercised by the
holder of the Warrants during the ten -day period between the date of the press release
announcing the accelerated expiry date and the expiration of the Warrants.
The net proceeds from the Unit Offering will be used for exploration at the Langis Silver Project
and for general working capital purposes.
In connection with completion of the third and final tranche of the Unit Offering, the Company
has issued 18,536 non-transferable share purchase warrants (each, a “ Finders’ Warrant”) to
an arm’s-length third -party who assisted in introducing subscribers. Each Finders’ Warrant
issued under the third and final tranche of the Unit Offering is exercisable at an exercise price
of $0.66 until August 27, 2029, and each Finders’ Warrant is subject to the same acceleration
provisions as the Warrants. In total, the Company has paid finders’ fees of $ 155,176.56 and
issued 473,322 Finders’ Warrants across all tranches of the Unit Offering.
All securities issued in connection with the third and final tranche of the Unit Offering are subject
to a hold period expiring on December 28, 2026 in accordance with applicable securities laws.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
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For Investor Relations inquiries, please contact: Mr. Michael Rapsch, Vice President
Investor Relations. email: [email protected] or call Tel: 604-630-9707.
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Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking information under applicable
securities laws. Forward -looking information are statements and information that relate to future, not
past, events. In this context, forward-looking information often addresses expected future business and
financial performance, and often contain s words such as “anticipate”, “believe”, “plan”, “estimate”,
“expect”, and “intend”; information and statements that an action or event “may”, “might”, “could”,
“should”, or “will” be taken or occur, or other similar expressions. All information other than information
of historical fact included herein are forward-looking information, including, without limitation, information
regarding the Company’s business plans and strategies of operations and the use of proceeds of the
Unit Offering. By its nature, forward-looking information involves 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 information. 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; 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 information is based on management’s beliefs, estimates and opinions on the date that
such information is provided and the Company undertakes no obligation to update forward -looking
information 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 information. 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.