Brunswick Exploration Inc. (TSX-V: BRW) is pleased to announce that it has closed its previously announced non-brokered private placements for aggregate gross proceeds of $1,009,950, consisting of the issuance of 5,771,143 units of the Corporation at a price of $0.175 per Unit.
Each Unit consists of one common share of the Corporation and one-half of one common share purchase warrant of the Corporation. Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.23 for a 36-month period following the closing date of the Offering.
The net proceeds from the Offering are expected to be used by the Corporation for the exploration of the Corporation’s properties, as well as for general corporate purposes.
In connection to this Offering, the Corporation paid cash finders fees of $1,585.00.
The Offering was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. All securities issuable pursuant to the Offering are subject to a statutory 4-month hold period expiring on November 12, 2022 in accordance with applicable securities legislation.
As a result of the Offering, 154,732,881 common shares of the Corporation are issued and outstanding.
The Corporation is a Montreal-based mineral exploration venture listed on the TSX Venture Exchange under symbol BRW. The Corporation is focused on grassroot exploration for metals necessary to decarbonization and energy transition with a particular focus on lithium, tin, nickel and copper. The Corporation is focused on rapidly advancing the most extensive grassroot lithium exploration claim package in Eastern Canada.
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We acknowledge the [financial] support of the Government of Canada.