Brixton Metals Closes Tranche 1 Of Its Private Placement

Executive Summary

• Brixton Metals completed the first tranche of a non‑brokered private placement, raising $5.70 million in gross proceeds.
• The offering consisted of three classes of flow‑through units (FT, CMFT, NFT) with per‑unit prices ranging from $0.07 to $0.085, each accompanied by a warrant exercisable at $0.10 per share until 2 Dec 2028.
• Proceeds are earmarked for Canadian exploration drilling at the Thorn Copper‑Gold Project (BC) and Langis Silver‑Cobalt Project (ON), as well as general corporate purposes.

Key Details

• Units Issued:
• 30,062,500 FT Units @ $0.08 per unit
• 37,761,989 CMFT Units @ $0.085 per unit
• 1,192,857 NFT Units @ $0.07 per unit
• Total Gross Proceeds: $5,698,269.06.
• Warrant Terms: One non‑transferable warrant per unit, exercisable for one common share at $0.10 per share, valid until 2 Dec 2028.
• Related Party Transaction: Insider participation of $29,999.90 (under TSX‑V Policy 5.9).
• Use of Proceeds:
• FT Units – Canadian exploration and flow‑through mining expenditures.
• CMFT Units – Flow‑through critical mineral mining expenditures.
• NFT Units – General corporate purposes.
• Exploration Focus: Drilling at the Thorn Copper‑Gold Project (BC) and Langis Silver‑Cobalt Project (ON).
• Hold Periods: FT and CMFT securities subject to hold until 3 Apr 2026; NFT units sold to Canadian residents (excluding Québec) exempt from hold period under NI 45‑106.
• Finder’s Fees: $88,246.14 paid plus 1,051,481 warrants issued to introducers.

Notable Quotes

(No direct quotes were provided in the release.)