Offering finances Langis Silver project and Thorn gold-silver project
By Devika Patel
Knoxville, Tenn., May 10 – Brixton Metals Corp. said it will conduct a C$2 million non-brokered private placement of units and stock with a 15% greenshoe.
The company will sell units of one common share and one warrant at C$0.30 per unit. Each whole warrant will be exercisable at C$0.50 for two years.
Brixton Metals will also sell flow-through common shares at C$0.33 apiece.
The price per share is a 13.16% discount to the May 9 closing share price of C$0.38. The warrant strike price is a 31.58% premium to that price.
Settlement is expected June 8.
Proceeds will be used to advance the Langis Silver project and the Thorn gold-silver project and for general working capital.
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 warrant, flow-through common shares
|
| Amount: | C$2 million
|
| Greenshoe: | 15%
|
| Agent: | Non-brokered
|
| Pricing date: | May 10
|
| Settlement date: | June 8
|
| Stock symbol: | TSX Venture: BBB
|
| Stock price: | C$0.38 at close May 9
|
| Market capitalization: | C$4.25 million
|
|
|
| Units
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
|
|
| Stock
|
| Price: | C$0.33
|
| Warrants: | No
|
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