Brokered offering conducted on a best-efforts basis by Casimir, IBK
By Devika Patel
Knoxville, Tenn., April 1 - Brixton Metals Corp. said Thursday it settled a C$1 million initial tranche of a private placement of units it announced on March 3. Casimir Capital Ltd. and IBK Capital Corp. are conducting the offering on a best-efforts basis.
In the first tranche, the company sold 4 million flow-through units at C$0.25 apiece to MineralFields Group. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole flow-through unit warrant will be exercisable at C$0.40 for two years, which is a 81.82% premium to the March 31 closing share price of C$0.22.
Brixton Metals also is selling units of one common share and one half-share warrant at C$0.20 apiece. Each whole unit warrant will be exercisable at C$0.30 for two years, which is a 36.36% premium to the March 31 closing share price.
The gold, silver and copper exploration company is based in Vancouver, B.C.
| Issuer: | Brixton Metals Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$1 million (minimum)
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Announcement date: | March 3
|
| Settlement date: | March 31 (for C$1 million)
|
| Agents: | Casimir Capital Ltd. and IBK Capital Corp.
|
| Investor: | MineralFields Group (for C$1 million)
|
| Stock symbol: | TSX Venture: BBB
|
| Stock price: | C$0.22 at close March 31
|
| Market capitalization: | C$4.72 million
|
|
|
| Units
|
| Price: | C$0.20
|
| Warrant strike price: | C$0.30
|
|
|
| Flow-through units
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| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrant strike price: | C$0.40
|
| Settlement date: | April 1
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