Not for distribution to United States Newswire Services or for dissemination in the United States
VANCOUVER, British Columbia, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it completed on December 18, 2025, the third and final tranche of a non-brokered private placement previously announced on November 14, 2025 (the "Offering").
The third tranche of the Offering consisted of 35,714,285 Non Flow-Through (“NFT Units”) at a per NFT Unit price of $0.07 for total gross proceeds of $2,499,999.95, the gross proceeds from tranche 2 and tranche 1 were $3,997,924.79 and $5,698,269.06, respectively, for cumulative total gross proceeds of $12,196,193.80.
Chairman, CEO, Gary R. Thompson remarked, “We would like to thank our shareholders for their continued support and welcome new investors to the Company. As previously stated, a portion of proceeds will immediately be directed toward a winter drill campaign at Brixton’s wholly owned Langis Silver Project in Ontario. Silver prices have reached an all-time high of US$66 per ounce and we aim to capture the attention of silver investors as we bring Langis, a rare native silver exploration project, into focus. Langis is a past-producer that produced 10.4Moz of silver at a head grade of 25 opt or 778 g/t intermittently from 1908-1989 with silver recoveries of 88 to 98%. Infrastructure is excellent and operational costs are low. We intend to drill up to 15,000m as a phase one program starting in January 2026. The most recent drilling at Langis was in 2022 where hole 283 returned 9m of 1037 g/t Ag including 4m of 2043 g/t Ag. In 2021, hole 219 yielded 22m of 392.8 g/t Ag including 7m of 919.3 g/t Ag.”
Each of the NFT Units consisted of a Common Share and one non-transferable warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional non-flow-through Common Share of the Company at a per share price of $0.10 until December 18, 2028. The gross proceeds from the NFT Units will be used for general corporate purposes. No finders’ fees were payable in this third tranche.
The Common Shares and Warrants comprising the NFT Units issuable under the Offering were offered for sale pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). Because the offering of the NFT Units was completed pursuant to the Listed Issuer Financing Exemption, the securities issued to subscribers for the non-flow-through Common Shares and Warrants underlying the NFT Units are not subject to a hold period pursuant to applicable Canadian securities laws.
Qualified Person (QP)
Mr. Gary R. Thompson, P.Geo., is a Director, Chairman, CEO and President for the Company who is a Qualified Person as defined by National Instrument 43-101. Mr. Thompson has verified the referenced data and analytical results disclosed in this press release and has approved the technical information presented herein.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
info@brixtonmetals.com
For Investor Relations inquiries, please contact: Mr. Michael Rapsch, Vice President Investor Relations. email: michael.rapsch@brixtonmetals.com or call Tel: 604-630-9707
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All statements other than statements of historical fact included herein are forward-looking statements, including, without limitation, statements regarding potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, proposed timing for completion of the Private Placement, the expected number of Common Shares to be issued and gross proceeds of the Private Placement, and the use of proceeds of the Private Placement. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; the fact that the Private Placement may not close as scheduled or at all, and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Brixton does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. Not for distribution to United States Newswire Services or for dissemination in the United States.
