Brixton Metals Private Placement Further Over-Subscribed

Press Release

Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that, due to overwhelming interest, the Company’s non-brokered private placement previously announced on October 30, 2023, and November 6, 2023, (the “Offering“) has been further over-subscribed.

The Offering will now consist of up to 15,016,666 units (“Units”), up to 49,386,593 national flow-through units (“NFT Units”) and up to 16,384,646 charity flow-through units (“Charity FT Units”), for total gross proceeds of up to $14,580,535.75.

Each Unit will consist of one common share of the Company and one half of one transferable common share purchase warrant (each whole warrant, a “Warrant”), each whole Warrant exercisable at a per share price of $0.23 until the second anniversary of the closing date of the Offering.

Each NFT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one half of one transferable Warrant. Each whole Warrant comprising the NFT Units and Charity FT Units shall entitle the holder to purchase one common share of the Company at a per share price of $0.23 until the second anniversary of the closing date of the Offering.  All other terms of the Offering remain unchanged.

The Offering is subject to certain conditions including the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange.

The anticipated closing of the Offering is November 20, 2023.  Finder’s fees in amounts to be determined may be payable to persons who introduce the Company to subscribers to the Offering.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO

Tel: 604-630-9707 or email: info@brixtonmetals.com

IBF4