GlobeNewswire·Aug 14, 2026, 5:36 PM ET

Brixton Metals Announces Closing of First Tranche of Private Placement

Brixton Metals Corporation closed the first tranche of its non-brokered private placement offering, issuing 6,779,767 units at $0.66 per unit for gross proceeds of $4,474,646.22.
Each unit consists of one common share & one warrant exercisable at $0.90 until August 15, 2029, with accelerated expiry if the share price exceeds $1.40 for ten consecutive trading days.
Net proceeds will fund exploration at the Langis Silver Project & general working capital purposes.
Securities issued in the first tranche are subject to a hold period expiring on December 15, 2026.
The company paid $125,146.56 in finders' fees & issued 189,616 non-transferable finders' warrants exercisable at $0.66 until August 15, 2029.
Insiders, including directors & officers, purchased 238,000 units; this related party transaction was exempt from valuation & minority shareholder approval requirements under MI 61-101.
No material change report was filed 21 days prior to closing because insider participation was not confirmed at that time.
The company intends to complete a final tranche of the offering & will provide details upon completion.