Brixton Metets Corporation said it completed a $9 million financing package, raising $8.96 million in gross proceeds across two tranches of units and flow-through shares to advance its Langis Silver Project in Canada.
The Vancouver-based company issued 650,000 units at $0.66 each, generating $429,000, and 5,332,905 flow-through shares at $0.76 each, raising $4.05 million. Combined, the two tranches totaled $8.96 million in gross revenue, aligning with the company’s stated target.
Each unit comprises one common share and one warrant exercisable at $0.90 per share until August 25, 2029. Warrants include an early expiry clause triggered if the share price exceeds $1.40 for ten consecutive trading sessions after December 26, 2026. Broker commissions for the second tranche amounted to $30,330, with 45,500 non-transferable broker warrants issued at $0.66, expiring on the same date as the unit warrants.
Proceeds from the unit offering will fund exploration at the Langis Silver Project and general working capital, while flow-through proceeds are earmarked for exploration expenses and qualifying mining expenditures under Canada’s Income Tax Act. All securities issued are subject to a trading restriction period ending December 26, 2026.
Brixton Metals said it plans to finalize a third tranche of the unit offering and will disclose further details upon completion.
