- Brunswick Exploration (BRW) has closed a bought deal private placement for gross proceeds of $7,500,000
- Under the upsized offering, the company sold 8,823,530 units priced at C$0.85 per unit
- Net proceeds raised will be used to fund the exploration of the company’s portfolio of lithium projects in Canada
- BRW expects to close its concurrent C$2.0 million non-brokered private placement on March 24, 2023, for combined gross proceeds of $9,500,000.50
- Brunswick Exploration is a Canada-based mineral exploration company
- Brunswick Exploration Inc. (BRW) is up 2.15 per cent on the day, trading at C$0.95 per share at 10:30 am ET
Brunswick Exploration (BRW) has closed its previously-announced bought deal private placement for gross proceeds of $7,500,000.
The syndicate of underwriters, led by Red Cloud Securities Inc., fully exercised the over-allotment option for gross proceeds of $1.5 million. Due to demand, the offering was upsized from C$5.0 million to C$6.0 million.
The company sold 8,823,530 units priced at C$0.85 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.25 at any time on or before March 9, 2026.
Net proceeds raised will be used to fund exploration of the company’s projects in Quebec, Ontario, Saskatchewan and Manitoba and for general working capital and corporate purposes.
BRW expects to close its concurrent C$2.0 million non-brokered private placement on or around March 24, 2023.
Total gross proceeds from both offerings are expected to be $9,500,000.50.
About Brunswick Exploration
Brunswick Exploration is a Canada-based mineral exploration venture focused on exploration for metals, with a focus on lithium. The company’s lithium project portfolio includes holdings in Quebec, Ontario, Saskatchewan, Manitoba and Atlantic Canada.
Brunswick Exploration Inc. (BRW) is up 2.15 per cent on the day, trading at C$0.95 per share at 10:30 am ET.