Brunswick Exploration Closes First Tranche of Non-Brokered Private Placement for Gross Proceeds of $4,195,000

Core Viewpoint - Brunswick Exploration Inc. has successfully closed the first tranche of a non-brokered private placement, raising gross proceeds of $4,195,000 through the sale of 16,780,000 units at a price of $0.25 per unit [1] Group 1: Offering Details - Each unit consists of one common share and one half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at a price of $0.35 for 36 months [2] - The corporation will utilize the net proceeds for exploration activities in Canada, Saudi Arabia, and Greenland, as well as for general corporate purposes and working capital [3] - Finder's fees of $274,950 were paid, and 490,000 non-transferable finder warrants were issued, each exercisable at $0.25 for 24 months [4] Group 2: Regulatory and Compliance - The offering was completed under the listed issuer financing exemption, allowing the units to be offered without resale restrictions in Canada [5] - The offering remains subject to final acceptance by the TSX Venture Exchange [8] Group 3: Related Party Transaction - Mr. Robert Wares, the Chairman, subscribed for 1,000,000 units for $250,000, which is classified as a related party transaction [9] - The corporation relied on exemptions from formal valuation and minority shareholder approval requirements due to the transaction's value being under 25% of the corporation's market capitalization [9] Group 4: Company Overview - Brunswick Exploration is focused on grassroots exploration for lithium, a critical metal for global decarbonization, with a significant portfolio in Canada, Greenland, and Saudi Arabia [14] - The corporation's Mirage project is noted as one of the largest undeveloped hard-rock lithium resources in the Americas, with an estimated 52.2 million tonnes grading 1.08% Li2O [14]