Home / News / Brixton Metals Completes Public Offering for $2.7M

Brixton Metals Completes Public Offering for $2.7M

VANCOUVER, BC, August 11, 2011 – Brixton Metals Corporation (TSX-V: BBB) (the “Company” or “Brixton”) is pleased to announce that it has completed its public offering of units (the “Units”) and flow-through units (the “FT Units”) through its agent, Global Maxfin Capital Inc. (the “Agent”) The Company issued 10,869,999 Units at a price of $0.15 per Unit and 5,802,238 FT Units at a price of $0.19 per FT Unit for gross proceeds of approximately $2,700,000, which includes a partial exercise of the Agent’s over-allotment option.

Each Unit consists of one common share (a “Common Share”) of the Company and one common share purchase warrant (an “Offered Warrant”) and each Flow-Through Unit consists of one common share to be issued on a “flow-through” (a “Flow-Through Share”) basis and one-half of one Offered Warrant also to be issued on a “flow-through” basis.

The Company expects that the Offered Warrants will be posted for trading on the TSX Venture Exchange on Friday, August 12 under the symbol “BBB.WT”.In connection with the offering, the Company paid cash commissions equal to 9.0% of the gross proceeds of the offering to the Agent. The Company also granted to the Agents compensation warrants entitling the Agent to purchase up to 1,667,222 common shares for a 24 month period. Selling group members include Union Securities, Haywood Securities, Macquarie Private Wealth and BBS Securities.

About Brixton Metals

Brixton is a Vancouver based mineral exploration company engaged in the acquisition and exploration of precious metal assets. Brixton’s management is focused on advancing large-scale deposits to feasibility. Brixton’s portfolio is comprised of two properties: Thorn (BC), and Kahilt (Alaska). The Thorn property is a high-grade gold-silver-copper project located 50 kilometers from the past producing Golden Bear Mine in Northwest BC. The Kahilt Project is a gold-copper porphyry target located in the Kahiltna Terrane of Alaska. The Kahiltna Terrane hosts the giant Pebble gold-copper deposit of Anglo-American and Northern Dynasty. Brixton’s Kahilt Project is adjacent to the Whistler gold-copper deposit being developed by Kiska Metals, and the Estelle gold property being explored in joint venture by Millrock Resources with Teck American Incorporated. Brixton Metals trades on the TSX-V under ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.