Brixton Metals Corp. (TSXV: BBB | OTCQB: BBBXF) has closed its previously announced non-brokered private placement of common shares in the capital of Brixton by BHP Investments Canada Inc., a wholly owned subsidiary of BHP Group Ltd, with the goal of advancing the company’s Thorn Project located in Northwest British Columbia, Canada.
Chairman & CEO, Gary Thompson, stated, “We are excited to welcome BHP as a major shareholder of the company and are looking forward to working with BHP in advancing the exciting Thorn Project. We would also like to thank Crescat for their continued support of the company as we unlock shareholder value through drilling.”
Pursuant to the Private Placement, BHP Investments Canada Inc. acquired 75,743,391 common shares, representing 19.9% of the issued and outstanding common shares on an undiluted basis following completion of the offering, for aggregate gross proceeds of C$13,633,810.
Concurrently with the closing of the private placement, Crescat Portfolio Management LLC elected to exercise its pre-existing right to participate, on up to a pro rata basis, in equity financings by the company and acquired an additional 5,555,556 common shares for aggregate gross proceeds of C$1,000,000.
To find out more, please visit www.brixtonmetals.com