Brunswick Exploration Closes Upsized Non-Brokered Private Placement of $4.8M

Company Overview - Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under the symbol BRW, focused on grassroots exploration for lithium, a critical metal necessary for global decarbonization and energy transition [5] Offering Details - The company announced the closing of a non-brokered private placement with aggregate gross proceeds of $4,809,370.20 [8] - The offering included the sale of 11,755,382 Common Shares as "flow-through shares" to Québec purchasers at a price of $0.23 per share, generating gross proceeds of $2,703,737.86 [2] - Additionally, 4,837,242 Common Shares were sold to Canadian purchasers as "flow-through shares" at a price of $0.215 per share, resulting in gross proceeds of $1,040,007.03 [2] - The offering also comprised 3,437,501 Common Shares sold as "Charity flow-through shares" at a price of $0.31 per share, yielding gross proceeds of $1,065,625.31 [2] - Insiders participated in the offering, receiving an aggregate of 2,887,501 Common Shares, which is classified as a "related party transaction" [8] Use of Proceeds - The company plans to utilize the fresh capital to advance its Mirage Project and the rest of its Quebec portfolio in a financially sustainable manner [8] - Final results from the Q3 2024 drill campaign at Mirage, along with metallurgical results, are expected to be announced in 2025, followed by a new winter drill campaign [8] Regulatory Information - The offering remains subject to final approval from the TSX Venture Exchange [4] - The Offered Shares are subject to a statutory four-month and one-day hold period and have not been registered under the United States Securities Act [12]