Brixton Metals closes $5.69M first tranche of financing

Executive Summary

• Brixton Metals Corp. closed Tranche 1 of its non-brokered private placement on December 2, 2025, raising total gross proceeds of $5,698,269.06.
• The offering consisted of 30,062,500 national flow-through units, 37,761,989 critical mineral flow-through units, and 1,192,857 non-flow-through units, with proceeds allocated primarily to exploration drilling at the Thorn and Langis projects.
• The transaction included a related party transaction involving an insider investment of ~$30,000, exempted from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.

Key Details

• Total Gross Proceeds: $5,698,269.06.
• Unit Breakdown and Pricing:
  • National Flow-Through Units: 30,062,500 units issued at $0.08 per unit.
  • Critical Mineral Flow-Through Units: 37,761,989 units issued at $0.085 per unit.
  • Non-Flow-Through Units: 1,192,857 units issued at $0.07 per unit.
• Warrant Terms: Each unit (FT, CMFT, and NFT) included one non-transferable warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share at $0.10 per share until December 2, 2028.
• Use of Proceeds:
  • FT Units: Canadian exploration expenses and flow-through mining expenditures.
  • CMFT Units: Flow-through critical mineral mining expenditures.
  • NFT Units: General corporate purposes.
  • Specific Projects: Exploration expenditures are mainly for drilling at the Thorn copper-gold project (British Columbia) and the Langis silver-cobalt project (Ontario).
• Related Party Transaction:
  • One insider participated with aggregate cash consideration of $29,999.90.
  • Exemptions were utilized under Section 5.5(c) and Section 5.7(1)(b) of Multilateral Instrument 61-101 because the fair market value of securities distributed to interested parties did not exceed $2.5 million.
• Hold Periods:
  • Securities issued to subscribers of FT units, CMFT units, and some NFT units (offshore) are subject to a hold period until April 3, 2026.
  • NFT units issued to Canadian residents (except Quebec) under the listed issuer financing exemption are not subject to a hold period.
• Finder’s Fees:
  • Aggregate cash fees of $88,246.14 paid to arm's-length persons.
  • 1,051,481 non-transferable warrants issued to finders, exercisable at $0.10 per share until December 2, 2028.

Notable Quotes

• No direct quotes from management were included in the provided text.