Brixton Metals Announces Private Placement of up to $3,000,000
Brixton Metals Announces Private Placement of up to $3,000,000
VANCOUVER, BC – (Globe Newswire – November 6, 2019 – Brixton Metals Corporation (TSXV:
BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) announces a non -brokered private
placement financing of up to $ 3,000,000 (the “Private Placement”) through the issuance of any
combination of common shares of the Company (“Shares”), flow-through shares of the Company
(the “FT Shares”) and charitable flow-through shares of the Company (the “Charitable-FT Shares”).
The Shares will be priced at $0. 20 per Share and the FT Shares will be priced at $0. 24 per FT
Share. The Charitable FT Shares are priced at $0.29 per Charitable FT Share.
Chairman and CEO 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
“Exchange”).
The closing date for the Private Placement is scheduled to occur on or before November 27, 2019.
The Company may pay a finders’ 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 accorda nce with the provisions
of applicable prospectus exemptions available to existing security holders, if there is interest. Any
existing shareholders of the Company interested in participating in the Private Placement should
contact the Company using the con tact information below. 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 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
gold-silver and the Atlin gold 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. The
Company is actively seeking JV partners to advance one or more of it s projects. Brixton Metals
Corporation shares trade on the TSX -V under the ticker symbol BBB and on the OTCQB under the
ticker symbol BBBXF. For more information about Brixton Metals 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]
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES
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 ev ent “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, other than statements of historical fact included herein
including, without limitation, statements regarding the use of proceeds , TSXV final approval, and the exploration
potential of the Hog Heaven project based on historical drill results and forward looking statements. 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 follo wing 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 fi lings 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.