- Brunswick Exploration (BRW) has announced a private placement of FT units and Quebec charity FT units for gross proceeds of C$4.5 million
- The company will undertake a “best-efforts” private placement for gross proceeds of up to $4,000,000
- Concurrently, Brunswick will issue up to 962,000 shares at a price of $0.52 per share as part of a non-brokered Quebec-eligible flow-through share private placement
- Brunswick Exploration is a Montreal-based mineral exploration company focused on grassroots exploration for hard rock lithium
- Brunswick Exploration Inc. opened trading at $0.45
Brunswick Exploration (BRW) has announced a private placement of FT units and Quebec charity FT units for gross proceeds of C$4.5 million.
The company will undertake a “best-efforts” private placement for gross proceeds of up to $4,000,000.
The amount will be raised from the sale of up to 2,666,667 Quebec-eligible flow-through units of the company to charitable purchasers at a price of $0.75 per Quebec charity FT unit for gross proceeds of up to $2,000,000.
In addition, the company will sell up to 3,571,429 flow-through units of the company to charitable purchasers at a price of $0.56 per national charity FT unit for gross proceeds of up to $2,000,000.
Concurrently, Brunswick will issue up to 962,000 shares at a price of $0.52 per share as part of a non-brokered Quebec-eligible flow-through share private placement.
“With today’s announcement, Brunswick Exploration will be well positioned to launch one of Canada’s largest lithium grassroots exploration programs in 2023, targeting a multitude of untested pegmatites in several provinces,” explained Killian Charles, President of BRW.
Each Quebec charity FT unit will consist of one common share of the company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and the Taxation Act (Quebec) and one-half of one common share purchase warrant.
Each national charity FT unit will consist of one common share to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one-half of one warrant.
Each whole warrant shall entitle the holder to purchase one common share at a price of C$0.75 at any time on or before that date which is 36 months after the closing date.
Both the brokered offering and non-brokered private placement are scheduled to close on or around December 22, 2022.
Brunswick Exploration is a Montreal-based mineral exploration company focused on grassroots exploration for hard rock lithium deposits in Eastern Canada, a critical metal necessary to global decarbonization and energy transition.
Brunswick Exploration Inc. opened trading at $0.45.