Brixton Metals Corporation has closed the third and final tranche of its non-brokered private placement by issuing 264,800 units at a price of $0.66 per unit for gross proceeds of $174,768. The final closing brings the company's cumulative gross proceeds raised across all tranches to $9.13 million.

Each unit consists of one common share and one purchase warrant, with each warrant exercisable for an additional common share at $0.90 until August 27, 2029. The warrants include an accelerated expiry clause allowing the company to shorten the exercise window to ten days if common shares trade at or above $1.40 for ten consecutive trading days after a four-month statutory hold period.

Net proceeds from the offering will fund exploration at the Langis Silver Project and support general working capital. Securities issued under the final tranche are subject to a hold period expiring December 28, 2026.

To support the placement, the company issued 18,536 non-transferable finders' warrants under the final tranche at an exercise price of $0.66, valid until August 27, 2029. Across the entire offering, Brixton paid total finders' fees of $155,176.56 and issued 473,322 finders' warrants.

The Langis Silver Project is a past-producing silver mine situated in the Cobalt silver mining camp of Ontario, where historical production reached 10.4 million ounces of silver at a grade of 777.5 g/t. Brixton is advancing the property toward a maiden Mineral Resource Estimate targeted for the first half of 2027 following extensive recent drilling.

Read the full announcement: Brixton Metals Announces Closing Of Final Tranche Of Private Placement For Aggregate Gross Proceeds Of $9.1 Million