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  • Brunswick Exploration (BRW) has closed a private placement for gross proceeds of $5,500,240
  • The company also completed a non-brokered private placement, raising gross proceeds of $500,240
  • Brunswick Exploration is a Montreal-based mineral exploration company focused on grassroots exploration for hard rock lithium
  • Brunswick Exploration Inc. (BRW) is down 4.55 per cent on the day, trading at C$0.42 per share at 1:30 pm ET

Brunswick Exploration (BRW) has closed its previously announced private placement for gross proceeds of $5,500,240.

Under the brokered offering, the company raised gross proceeds of $5,000,000, including the full exercise of the agents’ over-allotment option, from the sale of 2,666,667 Quebec charity flow-through units and 5,357,143 national charity flow-through units.

Each Quebec charity FT unit consists of one FT common share and one-half of one FT common share purchase warrant.

Each national charity FT unit consists of one FT common share and one-half of one warrant.  Each whole warrant shall entitle the holder to purchase one common share at a price of C$0.75 at any time on or before December 22, 2025.

The agents received cash commissions totalling C$350,000.

The company also completed a non-brokered private placement, raising gross proceeds of $500,240 from the sale of 962,000 Quebec FT shares.

In connection with the non-brokered offering, the company paid finder’s fees to arm’s length third parties totalling $681.20.

All Quebec FT shares issued under the non-brokered offering are subject to a statutory four-month hold period, expiring on April 23, 2023.

Company insiders participated in the non-brokered offering and were issued a total of 327,000 FT shares.

Brunswick Exploration is a Montreal-based mineral exploration company focused on grassroots exploration for hard rock lithium deposits in Eastern Canada, a critical metal necessary to global decarbonization and energy transition.

Brunswick Exploration Inc. (BRW) is down 4.55 per cent on the day, trading at C$0.42 per share at 1:30 pm ET.


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