Pits & Quarries
Brunswick closes private placements for $3 million aggregate proceeds
December 27, 2020 By Rock to Road
Montreal, Que. – Brunswick Exploration announced it closed its previously announced non-brokered private placements for aggregate gross proceeds of $3,106,916.
Consisting of the issuance of 5,000,000 units of the company at a price of $0.22 per Unit, for gross proceeds of $1.1 million and 9,122,344 flow-through shares of the company, at a price of $0.22 per FT Share, for gross proceeds of $2,006,916.
Each Unit consists of one common share of the Company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to acquire one Common Share at a price of $0.28 for a 24-month period following the closing date of the Offerings.
The net proceeds from the Offerings are expected to be used by the company for the exploration of newly acquired Fundy Gold project and its portfolio of projects in the BMC under option from Osisko Metals Inc., as well as general corporate purposes.
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