Brixton Metals Closes Tranche 1 Of Its Private Placement

Core Viewpoint - Brixton Metals Corporation has successfully completed the first tranche of a non-brokered private placement, raising total gross proceeds of approximately $5.7 million [1][2]. Group 1: Offering Details - The Offering included 30,062,500 National Flow-Through Units at $0.08 each, 37,761,989 Critical Mineral Flow-Through Units at $0.085 each, and 1,192,857 Non Flow-Through Units at $0.07 each [2]. - The total gross proceeds from the Offering amounted to $5,698,269.06 [2]. Group 2: Unit Composition - Each type of unit (FT Units, CMFT Units, and NFT Units) consists of a share and a non-transferable warrant, allowing the purchase of an additional common share at $0.10 until December 2, 2028 [3]. Group 3: Use of Proceeds - Proceeds from FT Units will be allocated to Canadian exploration expenses and flow-through mining expenditures, primarily for drilling at the Thorn Copper-Gold Project and the Langis Silver-Cobalt Project [5]. - Gross proceeds from CMFT Units will be used for flow-through critical mineral mining expenditures as defined by Canadian tax law [5]. - Proceeds from NFT Units will be utilized for general corporate purposes [5]. Group 4: Insider Participation - An insider participated in the Offering, contributing $29,999.90, which is classified as a Related Party Transaction under TSX Venture Exchange Policy [4]. Group 5: Securities Regulations - Securities issued to subscribers of FT Units and CMFT Units will be subject to a hold period until April 3, 2026, in accordance with Canadian securities laws [6]. - NFT Units offered to Canadian residents are exempt from a hold period due to the Listed Issuer Financing Exemption [7]. Group 6: Finder's Fees - Finder's fees totaling $88,246.14 and 1,051,481 non-transferable warrants were paid to individuals who introduced subscribers to the Offering [8].