VANCOUVER, April 15 /CNW/ - Brixton Metals Corporation (TSXV: BBB) (the
"Company" or "Brixton") is pleased to announce that it has completed a
brokered private placement of a total of 1,465,000 units at a price of
$0.20 per unit (consisting of one common share and one-half of one
warrant) (the "Units") for total gross proceeds to the Company of approximately $293,000.
The agent for the private placement was Casimir Capital Ltd. Each
whole warrant is exercisable to acquire one common share of Brixton for
a period of 24 months at an exercise price of $0.30 per Brixton share.
The securities bear a four month and one day hold period. Agent's fees
totalling approximately $23,440 in cash and 117,200 broker warrants
were paid in accordance with the policies of the TSX Venture Exchange.
Each broker warrant is exercisable into one common share of the Company
at a price of $0.20 per share for a period of 24 months. The proceeds
of the private placement will be used for advancing the Company's
properties and for general and administrative purposes.
About Brixton Metals Corp.
Brixton is a Vancouver based mineral exploration company engaged in the
acquisition and exploration of precious metals assets. Brixton's
management is focused on advancing large-scale deposits to feasibility.
Brixton's portfolio is comprised of two properties: Thorn (BC), and
Kahilt (Alaska). The Kahilt District is the name Brixton has given to
its lands within the Kahiltna Terrane, a 650 km long section of Alaska
that was infused with copper and gold mineralization. The Kahiltna
Terrane hosts the giant Pebble gold-copper deposit of Anglo-American
and Northern Dynasty, the Whistler gold-copper deposit being developed
by Kiska Metals, and Millrock Resources' Estelle gold property being
explored in joint venture with Teck American Incorporated. Brixton
Metals trades on the TSX Venture Exchange under ticker symbol BBB. For
more information about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S.
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
including, without limitation; statements about the use of proceeds and
exercise of the Company's option agreements, are forward-looking
statements. 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;
environmental liability claims and insurance; reliance on key
personnel; the potential for conflicts of interest among certain
officers, directors or promoters with certain other projects; the
absence of dividends; competition; dilution; the volatility of our
common share price and volume and the additional risks identified the
management discussion and analysis section of our interim and most
recent annual financial statement or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities regulations.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date that statements are made and
Excelsior 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
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.
SOURCE Brixton Metals Corporation
For further information:
For more information about Brixton please visit our website at www.brixtonmetals.com.
Peter Oates, Investor Relations Manager
Brixton Metals Corp.
(604) 630 9707