SOURCE: Brixton Metals Corporation

Brixton Metals Corporation

September 15, 2017 09:00 ET

Brixton Metals Announces Private Placement of up to $3 Million

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

VANCOUVER, BC--(Marketwired - September 15, 2017) - Brixton Metals Corporation (TSX VENTURE: BBB) (the "Company" or "Brixton") announces a non-brokered private placement of up to $3.0 million (the "Private Placement"). The Private Placement will consist of units ("Units") to be issued at a price of $0.32 per Unit with each Unit consisting of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable by the holder into one common share of the Company at a price of $0.48 per share for a period of 36 months.

The proceeds from the Private Placement will advance the Company's Hog Heaven project and be used for general working capital. All securities issued pursuant to this Private Placement will be subject to a four month hold period. The Private Placement is subject to acceptance by the TSX Venture Exchange (the "Exchange") and the Company may pay a finders' fee in respect of certain subscribers under the Private Placement in accordance with policies of the Exchange.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, the anticipated closing of the Private Placement, Exchange approval, the proposed use of proceeds from the Private Placement, the exploration potential of the Hog Heaven property based on historical information, resources estimates on the Thorn Project are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • On Behalf of the Board of Directors

    Mr. Gary R. Thompson
    Chairman and CEO
    Tel: 604-630-9707
    email: info@brixtonmetals.com