Gowling WLG advised Brixton Metals Corporation on its non-brokered private placement of $1,150,000, which included a strategic investment by Rob McEwen.
On April 18, 2016, Brixton Metals Corporation announced that it has closed its non-brokered private placement consisting of the sale of 7,250,000 units at a price of $0.10 per unit and 4,250,000 flow-through shares of Brixton at a price of $0.10 per FT Share for aggregate gross proceeds of $1,150,000. Each unit consists of one common share and one transferable common share purchase warrant, with each warrant exercisable by the holder into one common share of Brixton Metals at a price of $0.15 per share for a period of 36 months from the closing date.
The proceeds from the private placement will be used to fund exploration activities at the company's Langis and Thorn projects, as well as for general corporate and administrative expenses.
Brixton Metals is a Canadian exploration and development company focused on the advancement of its projects toward feasibility. Brixton wholly owns two exploration projects, the Langis silver project and the Thorn gold-silver project.
Gowling WLG advised Brixton Metals in this transaction with a team that included Denis Silva and A. Brent Kerr, along with paralegal Toni Vodola. Gowling WLG previously acted for Brixton with respect to its acquisition of the Langis property.