Brixton Metals Concludes Its December Private Placement for a Total of $12.2 Million

Core Viewpoint - Brixton Metals Corporation has successfully completed the third and final tranche of a non-brokered private placement, raising a total of approximately $12.2 million across all tranches, with plans to utilize the proceeds for a winter drill campaign at its Langis Silver Project in Ontario, amid rising silver prices [1][2][3]. Group 1: Private Placement Details - The third tranche consisted of 35,714,285 Non Flow-Through (NFT) Units priced at $0.07 each, generating gross proceeds of $2,499,999.95 [2]. - Cumulative gross proceeds from all three tranches amounted to $12,196,193.80, with the first and second tranches raising $5,698,269.06 and $3,997,924.79, respectively [2]. - Each NFT Unit includes a Common Share and a non-transferable Warrant, allowing the purchase of an additional Common Share at $0.10 until December 18, 2028 [3]. Group 2: Project and Financial Outlook - A portion of the proceeds will be directed towards a winter drill campaign at the Langis Silver Project, which has historical production of 10.4 million ounces of silver with high recovery rates [3]. - The company plans to drill up to 15,000 meters as part of a phase one program starting in January 2026, following promising results from previous drilling [3]. - Current silver prices have reached an all-time high of $66 per ounce, positioning the company to attract silver investors [3]. Group 3: Regulatory and Compliance Information - The NFT Units were offered under the Listed Issuer Financing Exemption, meaning the securities are not subject to a hold period under Canadian securities laws [4]. - The company’s Qualified Person, Gary R. Thompson, has verified and approved the technical information disclosed in the announcement [5].