Brixton Metals has announced an oversubscription of $2,631,843 in a private placement loan totaling $6,145,381 with a prime order from Canadian business journal Crescat Capital.

Not intended for distribution to US Newswire services or for distribution within the US

VANCOUVER, British Columbia, September 15, 2022 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (“Company” or “Brixton”) TSX Venture Exchange (“exchange”), the Company closed the second tranche of its unbrokered private placement totaling $2,631,843.23 (“Second tranche private placement”) 19,495,135 units (“unit”) at a price of $0.135. Each unit consists of one common stock and one common stock purchase warrant, and each warrant is exercisable for additional shares of our common stock for $0.20 for 24 months from the date the unit is issued.

Brixton’s current largest shareholder, Crescat Portfolio Management LLC (“crescut”), a total of 11,111,112 units were issued, creating new “insiders” as defined under applicable securities laws. The exchange has approved this offering on September 13, 2022. Upon completion of the second tranche private placement, Crescat will control or direct his 34,018,451 Company shares representing his 11.69% of the Company’s outstanding shares. We have warrants that give us the right to purchase a total of 16,993,465 shares of common stock in our capital. or, subject to the exercise of the warrants, the total of 51,011,916 shares of our common stock, or approximately 16.57% on a post-conversion beneficial owner basis.

The Company would like to correct the reference in its September 1, 2022 news release regarding the issuance of broker warrants in connection with the September 1, 2022 closing of the first tranche of the offering (“First tranche private placement”). The Company has issued 759,378 broker warrants (instead of his announced 1,322,958) exercisable at a price of $0.16 for 24 months from the date of issuance in connection with the closing of the first tranche private placement. Additionally, in connection with the closing of the first tranche private placement, the Company today issued to Accilent Capital Management Inc. 563,580 brokered warrants exercisable at a price of $0.16 for 24 months from the date of issuance.

In connection with the closing of the second tranche private placement, the Company has issued Broker Warrants with an aggregate amount of $1,077,819 exercisable at a price of $0.135 for a period of 24 months from the date of issuance, with cash discoverers at arm’s length of $147,005.61. paid the fee for finder.

Combined earnings from the 1st tranche private placement and the 2nd tranche private placement amounted to $6,145,381.23.

The net proceeds from the second tranche private placement will be used for exploration costs, working capital and general corporate purposes for the ongoing Thorn Copper and Gold Project.

All securities issued in connection with the Second Tranche Private Placement are subject to a hold period of four months and one day from the completion of the Second Tranche Private Placement. Second Tranche Private Placement is subject to final TSX Venture Exchange approval.

This news release does not constitute an offering of securities in the United States. The securities offered are not registered in the United States and are not expected to be registered. Securities Act of 1933as amended, and such securities may not be offered or sold in the United States without US registration or an applicable exemption from the US registration requirements.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on advancing mining projects towards feasibility. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum project, the Atlin Goldfields project in northwest BC (under the Pacific Bay Minerals option) and Langis in Ontario. – HudBay Silver-Cobalt Project and Hog Heaven Copper-Silver-Gold Project in northwestern Montana, USA (an Ivanhoe Electric Inc. option). Brixton Metals Corporation shares trade on TSX-V under ticker symbol BBB and on OTCQB under ticker symbol BBBXF. For more information on Brixton, please visit our website www.brixtonmetals.com.

On behalf of the Board of Directors

Gary R. Thompson, P.Geo., Chairman and CEO
Phone: 604-630-9707 or Email: [email protected]

For investor relations, please contact Mitchell Smith, Vice President, Investor Relations.
Phone: 604-630-9707 or Email: [email protected]

Notes

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Information contained in this news release may contain forward-looking statements under applicable securities laws. Forward-looking statements are statements about future events, not past events. In this context, forward-looking statements often refer to expected future business and financial performance and are often “anticipate,” “believe,” “plan,” or “estimate.” , “expects”, “intends” and other words. Actions or events “could”, “potential”, “could”, including statements addressing potential quantity and/or grade of minerals, potential size and expansion of mineralized zones ”, “should” or “will”, the proposed timing of exploration and development plans, or other similar expressions. All statements, including statements regarding regulatory approvals, other than statements of historical fact contained herein, including but not limited to statements regarding offerings, use of proceeds, are forward-looking statements Unknown risks, uncertainties and other future results, performance or achievements of the Company that may be expressed or implied by such forward-looking statements. factors that may differ significantly from Such factors include, among others, the risks of: Need for additional funding. Operational risks associated with mineral exploration. commodity price fluctuations; title issues; and additional risks identified in our Annual Information Forms or other reports and filings with TSXV and applicable Canadian securities regulators. Forward-looking statements are based on management’s views, estimates and opinions as of the date the statements were made, and we reserve the right to make changes to these views, estimates and opinions or otherwise. We undertake no obligation to update any forward-looking statements. Applicable Securities Laws. Investors are cautioned against ascribed undue certainty to forward-looking statements.

This press release, although required by applicable Canadian law, is not intended for transmission to United States news services or distribution within the United States, and constitutes an offer to sell the securities described herein. or does not constitute a solicitation of an offer to sell. America. These securities have not been and will not be registered under the US Securities Act of 1933 or any state securities laws. Nor may it be offered or sold in the United States or to United States persons unless registered or exempt. .

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