Brixton Metals Corporation has closed the first tranche of its non-brokered private placement, raising gross proceeds of $4,474,646.22 through the issuance of 6,779,767 units at a price of $0.66 per unit.

Each unit consists of one common share and one purchase warrant exercisable at $0.90 until August 15, 2029. The warrants are subject to an accelerated expiry if the company's common shares trade at or above $1.40 for ten consecutive trading days. In connection with the first tranche, Brixton paid finders’ fees totalling $125,146.56 and issued 189,616 non-transferable finders’ warrants exercisable at $0.66 until August 15, 2029.

Net proceeds from the offering will be directed toward exploration at the Langis Silver Project and general working capital purposes. Company insiders participated in the offering by acquiring 238,000 units. All securities issued under the initial tranche are subject to a statutory hold period expiring on December 15, 2026, and the company intends to complete a final tranche of the offering.

The financing supports ongoing operational activity at the project, where Brixton is advancing a 60,000-metre 2026 bedrock drill program and targeting a maiden Mineral Resource Estimate for Langis in the first half of 2027.

The capital raise takes place against a backdrop of rising precious metals markets, with silver trading at $64.68 per ounce, reflecting an 11.85% price increase over the 30-day period ending August 14, 2026.

Read the full announcement: Brixton Metals Announces Closing of First Tranche of Private Placement