Brixton Metals Corporation said it has closed a $9 million financing package through two tranches of securities, including a flow-through share offering aimed at Canadian tax-advantaged exploration spending. The Vancouver-based miner raised gross proceeds of $8.96 million, with $4.05 million from a flow-through share issuance priced at $0.76 per share. The remaining $4.91 million came from a unit offering, with each unit comprising one common share and one warrant exercisable at $0.90 until August 25, 2029.
The second tranche of the unit offering included 650,000 units issued at $0.66 each, generating $429,000 in gross proceeds. The flow-through share offering consisted of 5.33 million shares at $0.76, totaling $4.05 million. Finders' fees and non-transferable warrants amounted to $30,030 and $45,500 respectively for the second tranche. Across both tranches, total finders' fees reached $155,177, with 235,116 finders' warrants issued at an exercise price of $0.66.
Proceeds from the unit offering will fund exploration at the Langis Silver Project and general working capital, while the flow-through proceeds will cover Canadian exploration expenses under the Income Tax Act. All securities issued are subject to a hold period expiring December 26, 2026. Warrants include an accelerated expiry provision triggered if the company's share price exceeds $1.40 for ten consecutive trading days after December 26, 2026.
Brixton Metals said it intends to complete a final tranche of the unit offering and will disclose further details upon closing. The financing closed on August 25, 2026.
