Brunswick Exploration (TSX-V:BRW) plans to raise up to C$4 million ($4.11 million) through an insider-led private placement to advance its lithium exploration activities across Canada, Saudi Arabia and Greenland.
The company will issue up to 16 million units at C$0.25 per unit, with each unit comprising one common share and a half warrant. Each full warrant enables the purchase of an additional share at C$0.35 for 36 months after closing.
CEO Killian Charles says the financing comes at a crucial time as Brunswick looks to commence exploration in Saudi Arabia and expand its international presence.
“Over the last 12 months, we have identified multiple high priority jurisdictions that have seen little to no lithium exploration efforts. We strongly believe that we can consolidate a significant portion of global lithium grassroot targets, further strengthening our position as the premier lithium exploration company,” Charles says.
The Montreal-based explorer plans to use the proceeds for exploration activities across its property portfolio and general working capital purposes.
Brunswick’s flagship Mirage project hosts one of the largest undeveloped hard-rock lithium resources in the Americas, with an inferred mineral resource estimate of 52.2 million tonnes grading 1.08% lithium oxide.
The offering is expected to close around 18 March 2026, subject to regulatory approvals including from the TSX Venture Exchange.
Edited by Adam Orlando
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Images: Brunswick Exploration
