Pursuant to the Financing, Brunswick Gold was issued 284,944,440 units (each, a 'Unit'), at an issuance price equal to
The net proceeds from the Financing after repayment of the Loan will fund the Company to enable it to restart its detailed directional diamond drilling program to inform a robust geological model, updated technical report, detailed mine plan as well as upgrades on site to underpin the previously announced return to production.
Details of Financing
As previously announced, the Financing was based on a CDN$ / US$ exchange rate of
Each Unit consists of one common share in the capital of the Company (each, a 'Common Share') and one Common Share purchase warrant (each, a 'Warrant'). Each Warrant will entitle the Brunswick Gold to purchase one Common Share at an exercise price equal to
As described in the management information circular prepared in connection with the Meeting and as provided pursuant to the terms of an investor rights agreement dated
As also previously announced and as set out in the management information circular, on closing of the Financing,
In connection with the 31,909,280 Common Shares issued to PFL on closing, such issuance fully settles the Company's outstanding debt to PFL in the amount of
All securities issued pursuant to the Financing are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities legislation.
Contact
Tel: 1 917 287 0716
Caution
The Company cautions that it has not defined or delineated any proven or probable reserves for the
The Company also cautions that the decision by the Company to proceed to develop the
Forward-looking Statements
This press release contains forward-looking statements regarding the Company based on current expectations andassumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-lookingstatements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR (www.sedar.com) under the Company's issuer profile. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
About the Company
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