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Brixton Metals Closes $2M Private Placement with Mr. Robert Friedland

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Brixton Metals Closes $2M Private Placement with Mr. Robert Friedland

 

 

 

 

 

Brixton Metals Corp.  (TSX-V: BBB) (OTCQB: BBBXF) is pleased to announce that it has closed its previously announced non-brokered private placement of units of the Company for gross proceeds of C$2,000,000 with Mr. Robert Friedland’s controlled affiliate, Newstar Advantage Ltd. Further details are provided in the press release, dated October 27, 2020.

 

Each unit was issued at a price of C$0.235 and is comprised of one common share of the Company and one common share purchase warrant. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of C$0.35 for a period of 36 months from the date of closing of the Private Placement.

 

The Company issued a total of 8,510,638 Units pursuant to the Private Placement.

 

Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “We are delighted to have secured the support of mining mogul Robert Friedland as a shareholder in the Company. We looking forward to working with the HPX team as we accelerate the advancement of the Hog Heaven Project.”

 

The net proceeds from the issuance of Units were used to eliminate 1.5% of the existing 3.0% NSR royalty on the Hog Heaven Project held by Pan American Silver Corp. as further described in the Company’s press release dated October 27, 2020 and for general working capital purposes.

 

The completion of the Private Placement is subject to receipt of the necessary regulatory approvals, including final acceptance by the TSX Venture Exchange. The Units, including all underlying securities thereof, issued with respect to the Private Placement, will be subject to a hold period of four months and one day in accordance with applicable securities laws.

 

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

 

About Brixton Metals Corporation

 

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver and the Atlin Goldfields projects located in NWBC, the Langis-HudBay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. Brixton Metals Corporation shares trade on the TSX-V.

 

Posted November 4, 2020

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