Non-brokered deal funds acquisition, exploration and working capital
By Devika Patel
Knoxville, Tenn., Feb. 25 – Brixton Metals Corp. said it increased its non-brokered private placement of stock and units to C$1 million from C$400,000. The deal priced Jan. 11.
The company is selling flow-through common shares as well as units of one common share and one warrant at C$0.10 per unit. Each warrant is exercisable at C$0.15 for three years.
The warrant strike price represents a 66.67% premium to C$0.09, the Jan. 8 closing share price.
Proceeds will be used to acquire the Langis property from Canagco Mining Corp. and for exploration and general working capital.
The gold, silver and copper exploration company is based in Vancouver, B.C.
| Issuer: | Brixton Metals Corp.
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| Issue: | Flow-through common shares, units of one common share and one warrant
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| Amount: | C$1 million
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| Agent: | Non-brokered
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| Pricing date: | Jan. 11
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| Upsized: | Feb. 25
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| Stock symbol: | TSX Venture: BBB
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| Stock price: | C$0.09 at close Jan. 8
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| Market capitalization: | C$1.93 million
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| Shares
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| Warrants: | No
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| Units
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| Price: | C$0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.15
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