Brixton Metals Closes Tranche 2 Of Its Private Placement

Executive Summary

• Brixton Metals completed the second tranche of its non‑brokered private placement, raising approximately $4.0 M in gross proceeds.
• The offering consisted of 250,000 FT Units @ $0.08 and 56,827,497 NFT Units @ $0.07, each unit including a non‑transferable warrant to purchase common shares at $0.10 until December 11, 2028.
• Proceeds will be allocated to Canadian exploration expenses and flow‑through mining expenditures (FT Units) and general corporate purposes (NFT Units).

Key Details

• Units Issued
• FT Units: 250,000 units @ $0.08 per unit → $20,000 gross proceeds.
• NFT Units: 56,827,497 units @ $0.07 per unit → $3,977,924.79 gross proceeds.
• Total Gross Proceeds: $3,997,924.79.
• Warrant Terms: Each unit includes one non‑transferable warrant to purchase one common share at $0.10 per share, exercisable until December 11, 2028.
• Use of Proceeds
• FT Units: Funding “Canadian exploration expenses” and “flow‑through mining expenditures” as defined under the Canadian Income Tax Act.
• NFT Units: General corporate purposes.
• Hold Periods
• FT Unit securities subject to a hold period until April 12, 2026 (per Canadian securities law).
• NFT Unit securities issued under the Listed Issuer Financing Exemption – no hold period required.
• Finder’s Fees: Paid cash fees of $1,200 plus 3,364,649 non‑transferable warrants (exercise price $0.10) to persons who introduced subscribers to the offering.
• Regulatory Notices: Offering completed under Part 5A of NI 45‑106; securities not registered in the United States and not offered there.

Notable Quotes

(No direct quotes were provided in the release.)