|By Marketwired .||
|October 11, 2013 11:48 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 10/11/13 -- Evanachan Limited ("Evanachan") has subscribed, by way of a private placement, for ten million (10,000,000) units (the "Units") of Brixton Metals Corporation ("Brixton Metals") at a price of $0.10 per Unit for an aggregate amount of $1,000,000. Each Unit consists of one (1) common share and one (1) transferable common share purchase warrant (the "Transaction"). Each common share purchase warrant entitles Evanachan to purchase one (1) additional common share in Brixton Metals at a price of $0.15 for a period of 24 months from the date of closing, which took place today, October 11, 2013. The common shares and common share purchase warrants purchased pursuant to the Transaction represent ownership of approximately 8.9% (10.2% before giving effect to the Transaction) of the issued and outstanding shares of Brixton Metals post closing (or approximately 16.35% assuming the exercise of the warrants comprising the Units only).
Evanachan entered into the Transaction for investment purposes and may increase or reduce its investment in Brixton Metals according to market conditions or other relevant factors.
Upon completion of the Transaction, Evanachan will hold 10,000,000 common shares representing 8.9% of the issued and outstanding common shares together with 10,000,000 common share purchase warrants exercisable into common shares, for a total of 20,000,000 shares of Brixton Metals, representing approximately 16.35% of Brixton Metals' common shares (assuming the exercise of the warrants comprising the Units only).
A copy of the early warning report filed in connection with the Transaction will be made available on SEDAR (www.sedar.com).
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