Brunswick Exploration Inc. (BRW.V) has announced a significant financing move, offering up to 3,636,364 Common Shares at $1.10 each to raise $4 million in gross proceeds. These shares, designated as ‘flow-through shares’ under the Tax Act, will fund aggressive drilling campaigns at the Mirage and Elrond Projects into Q1 2024.
Killian Charles, President & CEO of BRW, stated, “We’ve discovered multiple spodumene-bearing outcrops at Mirage. With initial drill results on the horizon, this financing ensures our continued exploration momentum.” The company plans to use the proceeds to expedite drilling at Mirage and explore the new Elrond Project discovery.
The funds will support ‘Canadian exploration expenses’ and ‘flow through mining expenditures’ as defined by the Tax Act, with proceeds renounced to subscribers by December 31, 2023. The offering, pending necessary approvals including the TSX Venture Exchange, is expected to close around November 17, 2023.
About Brunswick Exploration
Brunswick Exploration, a Montreal-based company listed on TSX-V (BRW.V), is at the forefront of lithium exploration in Canada, a key element in the global shift towards decarbonization and energy transition.
This release contains forward-looking statements regarding the use of proceeds and the anticipated completion of the offering. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. Factors include delays in obtaining approvals, changes in markets, inflation, commodity price fluctuations, and other risks in the mineral exploration industry.
Company Website: https://www.brwexplo.ca
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