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VANCOUVER, British Columbia, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV:BBB, OTCQB:BBBXF) (the "Company" or "Brixton") is pleased to announce that, due to overwhelming interest, the Company's non-brokered private placement previously announced on October 30, 2023, and November 6, 2023, (the "Offering") has been further over-subscribed.
The Offering will now consist of up to 15,016,666 units ("Units"), up to 49,386,593 national flow-through units ("NFT Units") and up to 16,384,646 charity flow-through units ("Charity FT Units"), for total gross proceeds of up to $14,580,535.75.
Each Unit will consist of one common share of the Company and one half of one transferable common share purchase warrant (each whole warrant, a "Warrant"), each whole Warrant exercisable at a per share price of $0.23 until the second anniversary of the closing date of the Offering.
Each NFT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one transferable Warrant. Each whole Warrant comprising the NFT Units and Charity FT Units shall entitle the holder to purchase one common share of the Company at a per share price of $0.23 until the second anniversary of the closing date of the Offering. All ...