Brixton Metals Announces Upsize of Previously Announced Non-Brokered Private Placement to $8 Million and Closing of Second Tranche

Brixton Metals Corporation has increased the size of its previously announced non-brokered private placement from $6 million to $8 million in aggregate gross proceeds. The company recently closed the second tranche of the offering, issuing 2,205,900 national flow-through shares (FT Shares) at $0.68 and 126,425 critical mineral flow-through shares (CMFT Shares) at $0.71.

Combined gross proceeds from the second tranche total approximately $1.59 million, bringing cumulative proceeds to over $6.02 million. The funds are designated for Canadian exploration expenses and flow-through mining expenditures, primarily targeting the Thorn Copper-Gold Project in British Columbia and the Langis Silver-Cobalt Project in Ontario.

As part of the transaction, the company paid $3,000.11 in cash to an introducer and issued 4,225 non-transferable common share purchase warrants exercisable at $0.68 until November 6, 2028. All securities are subject to a statutory hold period of four months and one day, expiring March 7, 2027. Management intends to complete a further tranche of the offering to reach the $8 million cap.

Brixton Metals Corporation (BBB) has closed the second tranche of its financing, a direct follow-up to the announcement made on October 28 and the initial closing on November 2. The offering price ranged from $0.68 to $0.71, sitting above the company’s current market price of $0.52. This structure indicates that the company is raising capital at a premium to recent trading levels.

The financing was upsized to $8 million, with the successful closure of the second tranche demonstrating continued investor appetite for flow-through structures in the current market environment. The capital raise extends the company's cash runway, allowing it to continue its aggressive 2026 drilling campaigns at the Langis and Thorn projects.

This capital raise is routine for a pre-resource explorer funding multi-project drill programs. It does not introduce new operational milestones, resource definitions, or strategic partnerships. The impact is incremental and expected, aligning with the company's stated need to fund exploration ahead of maiden resource estimates in early 2027.

Brixton Metals Corporation (BBB) is a Canadian exploration and development company focused on high-grade silver, copper, gold, and cobalt projects. Its flagship asset is the Langis Silver Project in Ontario, a past-producing mine that operated from 1908 to 1989 and yielded 10.4 million ounces of silver at a head grade of 777.5 g/t. The company is currently advancing a maiden resource estimate on historic tailings and expanding high-grade bedrock zones in the Shaft 6 area. Recent drilling has returned ultra-high-grade intercepts, including intervals exceeding 80,000 g/t Ag over 0.5 meters.

The company’s secondary asset is the Thorn Copper-Gold Project in British Columbia, a district-scale property featuring the Camp Creek porphyry system, the Trapper gold target, and the Catalyst/Tempest porphyry discoveries. Brixton is targeting maiden and updated resource estimates for the project in Q1 2027.

Other assets include Hog Heaven in Montana, which is optioned to Ivanhoe Electric; Atlin Goldfields in British Columbia, optioned to Eldorado Gold; and Silvergruvan in Sweden, an optioned acquisition.