Brixton Metals Corporation

Published : June 30th, 2016

Brixton Metals Completes $2.3 Million Financing

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Keywords :   Canada | Cash | Cobalt |

Brixton Metals Completes $2.3 Million Financing

June 22, 2016 - Brixton Metals Corporation (TSXV: BBB) (the 'Company' or 'Brixton') is pleased to announce that it has closed its previously announced and over-subscribed non-brokered private placement financing (the 'Private Placement'). The Private Placement consisted of the sale of 6,267,283 units ('Units') at a price of $0.30 per Unit and 1,272,166 flow-through shares of Brixton (the 'FT Shares') at a price of $0.33 per FT Share for aggregate gross proceeds of $2.3 million. Each Unit consists of one common share and one common share purchase warrant with each warrant exercisable by the holder into one common share of the Company at a price of $0.50 per share for a period of 24 months from the closing date.

The proceeds from the Private Placement will be used to fund exploration activities at the Company's Langis and Thorn properties as well as for general and administrative expenses.

The Company paid finders' fees totalling approximately $130,000 in cash and issued 422,104 finders' warrants in accordance with the policies of the TSX Venture Exchange ('TSXV'), subject to TSXV approval. All securities issued are subject to a four month hold period.

About Brixton Metals Corporation

Brixton is an exploration company focused on the advancement of its projects toward feasibility. Brixton wholly owns two exploration projects, the Langis Silver project and the Thorn project.

About Langis

The Langis project, including other lands in the Cobalt Camp is 2,520 hectare in size. The project is located 500 km north of Toronto, Canada. The high-grade silver mineralization occurs as steeply-dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase. The unmined Langis zone intersected by drilling: 2,115.04 g/t over 9.4 metres and 1,262.80 g/t Ag over 3.9 metres. This area will be the focus for follow up exploration work. According to historical Langis reports, the zone was traced to over 1,000 metres along strike and a vertical extent of 260 metres with true thickness being unknown. The Cobalt camp historically has produced over 420 million ounces of silver with some reported assays reaching 255,146 g/t Ag or 9,000 oz/t Ag over 0.36 metres. http://brixtonmetals.com/langis-mine/

About Thorn

The 28,000 hectare Thorn Project is located in the Sutlahine River area of northwestern British Columbia, Canada, approximately 105 km ENE from Juneau, AK. The Thorn project hosts a district scale Triassic to Cretaceous volcanoplutonic complex with several styles of mineralization related to porphyry and epithermal environments. Targets include sediment hosted gold, high-grade Ag-Au-Pb-Zn bearing diatreme-breccia zones, high-grade Au-Ag-Cu veins and volcanic hosted structurally controlled gold-silver zones. Brixton has established a maiden inferred resource of 21.5Moz AgEq from 7.4 Mt at 89.75 g/t AgEq. Further information regarding the Thorn Project, including that relating to resource estimates, can be found on the in the Company's technical report prepared by SRK Consulting for the Thorn Project dated December 12, 2014 and filed on SEDAR. Read more at http://brixtonmetals.com/thorn-technical-reports/

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.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO

Tel: 604-630-9707 or email: [email protected]

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

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.

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, final approval for the Private Placement from the TSX Venture Exchange, use of proceeds and the exploration potential of the Langis 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.

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Brixton Metals Corporation

CODE : BBB.V
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Brixton Metals is an exploration silver and gold company based in Canada.

Brixton Metals is listed in Canada. Its market capitalisation is CA$ 8.5 millions as of today (US$ 6.5 millions, € 5.9 millions).

Its stock quote reached its highest recent level on December 10, 2010 at CA$ 4.00, and its lowest recent point on December 04, 2015 at CA$ 0.05.

Brixton Metals has 43 790 000 shares outstanding.

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In the News and Medias of Brixton Metals Corporation
6/21/2018Brixton Metals spins out cobalt assets
Financings of Brixton Metals Corporation
4/11/2016Brixton Metals Closes $1,023,300 Financing
11/6/2013Announces Private Placement
9/20/2013Announces $700 000 Private Placement
9/19/2013Announces $700,000 Private Placement
6/15/2013Announces Private Placement
12/12/2012Announces $1.5 million Financing
4/30/2012Completes $1.0 million Financing
4/11/2012Announces $1.0 million Financing
2/2/2012Announces Flow Through Financing
4/1/2011Completes Flow Through Private Placement
Nominations of Brixton Metals Corporation
2/9/2011Brixton Metals Appoints Mr. Hughes As VP Exploration
Project news of Brixton Metals Corporation
9/6/2013Corporate Update=3A Brand New Website=2C Exploration Video ...
7/19/2013Signs Exploration Agreement with Taku River Tlingit First Na...
11/5/2012expands The Oban Zone=2C cutting one of the widest high grad...
10/3/2012Brixton commences second phase of Thorn drilling
7/20/2012Brixton completes 2012 Phase I drilling at Thorn
7/18/2012COMPLETES PHASE ONE=2C 2012 DRILLING AT THE THORN PROJECT
6/1/2012Provides Exploration Plan and Corporate Update
3/20/2012Summarizing 2011 drill results and plans for 2012.
1/5/2012Brixton Metals Intersects 95m of 904 g/t AgEq Including 9.25...
1/5/2012Intersects 95m of 904 g=2Ft AgEq Including 9.25m of 3=2C646...
8/19/2011Commences Exploration in Alaska
6/6/2011Announces Drilling Underway At Thorn, B.C. While Alaskan Dis...
Corporate news of Brixton Metals Corporation
7/27/2016Brixton Metals Provides Corporate and Project Update
6/30/2016Brixton Metals Completes $2.3 Million Financing
5/25/2016Brixton Metals Adds Lands At Its LANGIS SILVER Project and P...
5/11/2016Brixton Metals Announces Financing of $2M
5/11/2016Brixton Metals and Timiskaming First Nation Sign Exploration...
4/28/2016Brixton Metals Acquires The Past Producer Hudson Bay Silver ...
4/19/2016Brixton Metals Closes Final Tranche for Aggregate Proceeds o...
4/8/2016Brixton Metals Closes $1,023,300 Financing
4/8/2016Acquisition of Units of Brixton Metals Corporation
3/2/2016Brixton Metals Provides Preliminary Model of the Langis Silv...
2/2/2016Brixton Metals Closes Its Acquisition of the Past Producer L...
11/30/2015Brixton Metals to Acquire the Past-Producing Langis Silver M...
4/7/2015Announces Grant of Stock Options
4/7/2015Brixton Metals Announces Grant of Stock Options
12/16/2014Brixton Metals Files NI 43-101 Technical Report
12/15/2014Brixton Metals Files NI 43-101 Technical Report
10/30/2014Brixton Metals Establishes An Inferred Resource of 21.5 mill...
10/29/2014Brixton Metals Establishes an Inferred Resource of 21.5 Mill...
7/29/2014Brixton Metals Discovers Sediment Hosted Gold Zone at its Th...
7/7/2014Brixton Metals Appoints Mr. Ian Ball to the Board of Directo...
2/24/2014Files Assessment Report and Provides Summary
10/17/2013Commences Exploration At Its Thorn Project
10/10/2013Secures Strategic Investment from Rob McEwen and Hecla Minin...
8/28/2013Expands the OBAN Zone and Drills up to 1=2C275 g=2Ft Silver ...
8/8/2013Samples 13.5 g/t Au and 207 g/t Ag from Soils and Provides U...
6/26/2013Receives Additional Strategic Investment from Hecla Mining
2/21/2013Announces $2.6 Million Strategic Investment From Hecla Minin...
2/1/2013Enters into Definitive Purchase and Sale Agreement
1/8/2013to Acquire 100% Interest in Thorn Property
12/12/2012Chairman & CEO=2C Gary Thompson=2C spreading the word about ...
10/2/2012Commences Phase Two, 2012 Drill Program At Thorn
9/26/2012Completes $1.4 Million Financing
9/4/2012Drills 83.9m of 296.50 g=2Ft AgEq including 12.9m of 769.42 ...
2/22/2012Receives its Independent Report on The Thorn Property Confi...
1/24/2012Enters Investor Relations Agreement with Brisco Capital Part...
1/11/2012in the news=3A ''Brixton CEO Gary Thompson on BC assays of ...
11/28/2011Drills 75 m of 1.12 g=2Ft AuEq at the Oban Breccia Zone and ...
10/25/2011Drills 49.78 m of 2.26 g=2Ft AuEq at Talisker
9/9/2011Provides an Exploration Update
8/17/2011Doubles Talisker Zone Strike and Drills 34.8 m of 1.33g/t Au...
8/11/2011Completes Public Offering for $2.7M
7/30/2011Files Final Short Form Prospectus
7/12/2011Clarifies Technical Disclosure Related to its Cristo Propert...
6/28/2011Files Preliminary Short Form Prospectus
5/10/2011ENGAGES CHF INVESTOR RELATIONS
3/22/2011is in the media spotlight again.
3/18/2011Is Updating Its Records
3/4/2011hits the media
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