Brixton Metals Raises CA$4.4 Million After Closing First Tranche of Non-Brokered Private Placement

08:55 AM EST, 11/02/2026 (MT Newswires) -- Brixton Metals (BBB.V) closed a first tranche of a non-brokered private placement offering of national flow-through shares (FT shares) and critical mineral flow-through shares (CMFT shares), raising CA$4.4 million, it said in a statement on Monday. The first tranche consisted of the issuance of 1.3-million FT shares at CA$0.68 per FT share and 4.98-million CMFT shares at CA$0.71 per CMFT share. Proceeds from the sale of FT shares will be used to incur "Canadian exploration expenses" and "flow-through mining expenditures," it said. Proceeds from CMFT shares will be used to incur "flow-through critical mineral mining expenditures," the company added. Shares of the company closed down 10% to CA$0.54 on Friday on the TSX Venture Exchange.