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. These shares, sold 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.V, stated, “We’ve discovered multiple spodumene outcrops at Mirage, and our drilling campaign is just beginning to unveil its potential. With the upcoming drill results, 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 cover ‘Canadian exploration expenses’ and ‘flow through mining expenditures’ as defined by the Tax Act, with the intent to renounce such proceeds to subscribers by December 31, 2023.
The closing of the Offering, expected around November 17, 2023, hinges on approvals, including that of the TSX Venture Exchange. The Offered Shares will be restricted for a four-month period and are not registered under U.S. securities laws, limiting their sale to compliance with specific exemptions.
About Brunswick Exploration
Brunswick Exploration, based in Montreal and trading on the TSX-V as BRW.V, is at the forefront of lithium exploration in Canada. The company is committed to finding lithium resources essential for global decarbonization and energy transition, managing Canada’s most extensive grassroots lithium property portfolio.
Cautionary Statement on Forward-Looking Information
This release contains forward-looking statements regarding the use of proceeds and the Offering’s completion. These statements are based on current expectations and involve risks that may cause actual results to differ. The company cautions not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Company Website: https://www.brwexplo.ca
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