Brunswick closes $1.25M final tranche of financing

Executive Summary

• Brunswick Exploration Inc. has closed the final tranche of its non-brokered private placement, raising an additional $1.25 million.
• The total offering now comprises 20.78 million units with aggregate gross proceeds of $5,445,000.
• Proceeds will be used for exploration activities in Canada, Saudi Arabia, and Greenland, as well as for general corporate purposes and working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Final Tranche Details: Issuance of 5,000,000 units at $0.25 per unit.
• Total Units Issued: 20,780,000 units.
• Total Gross Proceeds: $5,445,000.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at $0.35 per share for a period of 36 months.
• Use of Proceeds: Exploration activities at properties in Canada, Saudi Arabia, and Greenland; general corporate purposes; and working capital.
• Finder’s Fees: Aggregate fees of $278,200 paid to arm's-length third parties.
• Finder Warrants: 490,000 non-transferable finder warrants issued, exercisable at $0.25 per share for 24 months, subject to a four-month-and-one-day restriction period.
• Regulatory Exemption: Completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. Units are not subject to resale restrictions in Canada.

Notable Quotes

• "With the completion of this financing, we will be accelerating our international plans as our compilation work has identified several highly prospective jurisdictions that have seen limited to no prior lithium exploration. As we continue to expand our reach, we also remain steadfast in growing our high-priority projects in Quebec. To that effect, I look forward to releasing first results from our Anatacau drilling campaign very shortly. Alongside our Mirage project, I strongly believe BRW has one of the most exciting exploration portfolios in Quebec." — Killian Charles, President and CEO