Brunswick Exploration Announces Closing of Non-Brokered Private Placement
November 17 2023 - 9:55PM
Brunswick Exploration Inc.
(“
Brunswick” or the
“
Corporation”) (
TSX-V: BRW) is
pleased to announce that it has closed its previously announced
non-brokered private placement for aggregate gross proceeds of
$5,700,000 consisting of the issuance of 1,519,057 Québec
flow-through shares of the Corporation at a price of $1.15 per
share and 3,593,714 National flow-through shares of the Corporation
at a price of $1.10 per share (the “
Offering”).
The Corporation expects to use the gross
proceeds from the Offering for Phase 2 drilling at the Mirage
Project and to drill test advanced targets starting with the Arwen
discovery at the Elrond Project in Q1 2024.
In connection to this Offering, the Corporation
paid cash finders fees of $260,756 to arm’s length third
parties.
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 and one day hold period expiring on March 18, 2024 in
accordance with applicable securities legislation.
Insiders of the Corporation have participated in
the Offering and subscribed to an aggregate of 232,218 flow-through
shares. Such participation in the Offering is a “related party
transaction” as defined in Regulation 61-101 respecting
Protection of Minority Security Holders in Special
Transactions (“Regulation 61-101“). The
Offering is exempt from the formal valuation and minority
shareholder approval requirements of Regulation 61-101 as neither
the fair market value of the securities issued to insiders nor the
consideration for such securities by insiders exceed 25% of the
Corporation’s market capitalization.
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. The Corporation is rapidly advancing
the most extensive grassroots lithium project portfolio in North
America with holdings in Québec, Ontario, Saskatchewan, Manitoba
and Atlantic Canada.
Investor
Relations/information:
Mr. Killian Charles, President and CEO
info@BRWexplo.com(514) 940-0670
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.
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