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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (168296)	11/3/2022 2:46:53 PM
From: LoneClone	Read Replies (1) \| Respond to of 196029

BHP invests in Canadian copper explorer Brixton Metals miningweekly.com 3rd November 2022 By: Mariaan Webb Creamer Media Deputy Editor Online Canadian exploration junior Brixton Metals on Wednesday announced a nonbrokered private placement by diversified major BHP, with the goal of advancing the Thorn project, located in north-west British Columbia. “We are excited to welcome BHP, a leading global resource company, to the Brixton share register and believe their investment speaks to the strength of the Thorn project and Brixton’s geological team,” said chairperson and CEO Gary Thompson. He said the Thorn project has the potential to help fill the immense demand for critical metals, such as copper. The wholly-owned 2 863 km2 Thorn project is located in at the northern extension of the prolific Golden Triangle, about 90 km north-east of Juneau. BHP will acquire the number of common shares that will represent 19.9% of the issued and outstanding common shares, on an undiluted basis, following completion of the private placement at a price of C$0.18 a share. The exact number of shares issued, and proceeds raised, will depend on whether Crescat Portfolio Management elects to exercise its pre-existing rights to participate on a pro rata basis in equity financings by the company to maintain its current interest of about 13.47%. If Crescat does not elect to exercise its participation rights, then 74 363 172 common shares will be issued to BHP for aggregate gross proceeds of C$13.4-million. If Crescat elects to exercise its participation rights in full, then it is expected that 77 354 983 common shares will be issued to BHP for aggregate gross proceeds of C$13.9-million and 12 042 415 common shares will be issued to Crescat for aggregate gross proceeds of C$2.2-million.