Brixton Metals Announces Fully Subscribed Private Placement of C$6,000,000
Brixton Metals Announces Fully Subscribed Private Placement of C$6,000,000
Not for distribution to United States Newswire Services or for dissemination in the United States
VANCOUVER, British Columbia, July 29, 2019 -- Brixton Metals Corp. (the "Company") (TSXV: BBB) (OTCQB: BBBXF) is
pleased to announce a fully subscribed, non-brokered private placement of a combination of units and flow-through shares of
the Company for gross proceeds of C$6,000,000 (the "Offering"). Each unit (a “Unit”) is being offered at a price of C$0.18 and
will be comprised of one common share of the Company and one half of one common share purchase warrant (each whole
warrant a "Warrant "). Each flow-through share (a “FT Share ”) is being offered at a price of C$0.22 and will be comprised of
one common flow-through share of the Company. Each Warrant entitles the holder thereof to acquire one common share of
the Company at a price of C$0.25 for a period of 24 months from the date of closing of the Offering.
The gross proceeds from the issuance of the FT Shares will be used for Canadian Exploration Expenses (“CEE”), and will
qualify as “flow-through mining expenditures” (the “Qualifying Expenditures”), as defined in subsection 127(9) of the Income
Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than December 31, 2019 to the
initial purchasers of the Offered Securities in an aggregate amount not less than the gross proceeds raised from the issue of
the FT Shares, as applicable, and, if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company
will indemnify each FT Shares subscriber for any additional taxes payable by such subscriber as a result of the Company’s
failure to renounce the Qualifying Expenditures as agreed.
The net proceeds from the private placement of Units and the gross proceeds from the private placement of FT Shares shall be
primarily used for exploration activities and for general working capital purposes.
The closing of the Offering is expected to occur on or about August 9, 2019 and is subject to receipt of all necessary
regulatory approvals including the TSX Venture Exchange (the “ TSXV”). The Units and FT Shares, including all underlying
securities thereof, and any finders warrants issued with respect to the Offering, will be subject to a hold period of four months
and one day in accordance with applicable securities laws.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not
been, nor will they be, registered under the United States Securities Act of 1933 , as amended, and such securities may not
be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration
requirements.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward
feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver and the Atlin Goldfields projects located
in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW
Montana, USA. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information
about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: [email protected]
For Investor Relations please contact Mitchell Smith
Tel: 604-630-9707 or email: [email protected]
Cautionary Note
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, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a
mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements
including statements in respect of regulatory approval, the proposed closing date and the expected size of the Offering, other
than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, 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; 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.