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Brixton Metals closed $4.46M private placement

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Image credit: Brixton Metals.

(Kitco News) - Brixton Metals (TSXV: BBB) (OTCQB: BBBXF) closed a non-brokered private placement of flow-through common shares of the company for gross proceeds of C$4,461,120.

Each flow-through share was issued at a price of C$0.36 and is comprised of one common flow-through share of the company. The company issued a total of 12,392,002 FT shares pursuant to the private placement.

The gross proceeds from the issuance of the FT shares will be used for exploration expenses in Canada.

Chairman and CEO Gary R. Thompson stated that “Brixton is now fully-funded going into 2021. Brixton will end 2020 with a treasury of about $9 million. This winter we are drilling for high-grade silver and cobalt at the Langis project in Cobalt, Ontario and will be drilling further high-impact targets at the Thorn project next season. We’re encouraged by the confidence we’ve seen from major shareholders, and are looking forward to positive near-term catalysts.”

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-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA.

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