Brunswick Exploration Announces Closing of Non-Brokered Private Placement for Aggregate Proceeds of $1 Million
July 12 2022 - 12:36PM
Brunswick Exploration Inc.
(“
Brunswick” or the
“Corporation”) (
TSX-V: BRW) is
pleased to announce that it has closed its previously announced
non-brokered private placements for aggregate gross proceeds of
$1,009,950, consisting of the issuance of 5,771,143 units of the
Corporation (each, a "
Unit") at a price of $0.175
per Unit (the "
Offering").
Each Unit consists of one common share of the
Corporation (each, a "Common Share") and one-half
of one common share purchase warrant of the Corporation (each whole
warrant, a "Warrant"). Each Warrant entitles the
holder thereof to acquire one Common Share at a price of $0.23 for
a 36-month period following the closing date of the Offering.
The net proceeds from the Offering are expected
to be used by the Corporation for the exploration of the
Corporation’s properties, as well as for general corporate
purposes.
In connection to this Offering, the Corporation
paid cash finders fees of $1,585.00.
The Offering was carried out pursuant to
prospectus exemptions of applicable securities laws and is subject
to final acceptance by the TSX Venture Exchange. All securities
issuable pursuant to the Offering are subject to a statutory
4-month hold period expiring on November 12, 2022 in accordance
with applicable securities legislation.
As a result of the Offering, 154,732,881 common
shares of the Corporation are issued and outstanding.
About Brunswick
The Corporation is a Montreal-based mineral
exploration venture listed on the TSX Venture Exchange under symbol
BRW. The Corporation is focused on grassroot exploration for metals
necessary to decarbonization and energy transition with a
particular focus on lithium, tin, nickel and copper. The
Corporation is focused on rapidly advancing the most extensive
grassroot lithium exploration claim package in Eastern Canada.
Cautionary Statement on Forward-Looking
Information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Any information contained herein
that is not based on historical facts may be deemed to constitute
forward looking information within the meaning of Canadian
securities laws. Forward-looking information may be identified by
the words “may”, “would”, “could”, “should”, “will”, “intend”,
“plan”, “anticipate”, “believe”, “estimate”, “expect” or similar
expressions. Forward-looking information may include, but is not
limited to: the intended use of proceeds of the Offering and the
receipt of final approval from the TSX Venture Exchange. Investors
are cautioned that forward-looking information is not based on
historical facts but instead reflects estimates or projections
concerning future results or events based on the opinions,
assumptions and estimates of management considered reasonable at
the date the information is provided.
Although the Corporation believes that the
expectations reflected in such forward-looking information are
reasonable, such information involves risks and uncertainties, and
undue reliance should not be placed on such information, as unknown
or unpredictable factors could have material adverse effects on
future results, performance, or achievements of the Corporation and
no assurance can be given that such events will occur in the
disclosed time frames or at all. Among the key factors that could
cause actual results to differ materially from those projected in
the forward-looking information include but are not limited to: the
decision by management of the Corporation to utilize the proceeds
of the Offering in a different manner than described herein; and
changing global financial conditions, especially in light of the
COVID-19 global pandemic; and those risks set out in the
Corporation’s public documents filed on SEDAR at www.sedar.com.The
Corporation disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Investor Relations/information:
Mr. Killian Charles, President
Telephone: (514) 861-4441
kcharles@brwexplo.ca
Brunswick Exploration (TSXV:BRW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brunswick Exploration (TSXV:BRW)
Historical Stock Chart
From Jul 2023 to Jul 2024