Brunswick Exploration (TSX-V:BRW) has issued an additional 5 million units at C$0.25, raising C$1.25 million ($1.29 million), as part of a previously reported non-brokered private placement.
As a result, the Canadian mineral explorer has raised a total of C$5.44 million under the offering.
Brunswick will use the funds towards exploration activities across its portfolio of projects in Canada, Saudi Arabia and Greenland, alongside general corporate and working capital.
CEO Killian Charles says with the completion of this financing, the company is able to accelerate its international plans as work has identified several highly prospective jurisdictions that have seen limited to no prior lithium exploration.
“As we continue to expand our reach, we also remain steadfast in growing our high-priority projects in Québec,” Charles says.
“To that effect, I look forward to releasing first results from our Anatacau drilling campaign very shortly. Alongside our Mirage Project, I strongly believe Brunswick Exploration has one of the most exciting exploration portfolios in Québec.”
Brunswick’s Greenland project portfolio comprises the Nuuk licence hosted within the Ivisaartoq Greenstone Belt. The belt is Mesoarchean in age and contains amphibolites, metasediments, ultramafics, gneisses, gabbros, granites and pegmatites.
The Mirage Project, located in the James Bay region of Canada, comprises 278 claims with a total surface area of 13,839 hectares. Meanwhile, the Anatacau Project is a highly prospective lithium pegmatite asset, also located in the James Bay region.
Write to Aaliyah Rogan at Mining.com.au
Images: Brunswick Exploration
