Brixton Metals to Sell Its Non-Core Mining Claims in the Cobalt Camp, Ontario
VANCOUVER, BC--(Marketwired - June 07, 2017) - Brixton Metals Corp. (TSX VENTURE: BBB) (the "Company" or "Brixton") is pleased to announce that it has entered into an asset purchase and sale agreement with First Cobalt Corp. (TSX VENTURE: FCC) ("First Cobalt"), to sell 100 percent interest in Brixton's non-core mineral claims located in the Cobalt Camp, Ontario, Canada. The 22 claims cover approximately 848 hectares. The agreement provides that First Cobalt will pay Brixton $325,000 cash.
Chairman and CEO of Brixton, Gary R. Thompson stated, "These non-core claims were not contiguous to Brixton's Langis or Hudson Bay properties. The divesture of these claims allows Brixton to focus on our wholly owned Langis and Hudson Bay past producing, high-grade silver-cobalt mines within the Cobalt Camp."
A Finder's Fee of $16,500 is payable to Red Cloud Klondike Strike Inc., in connection with this transaction.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility.
Brixton Metals Corp. shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval for the issuance of the Acquisition Shares, historical unclassified resource estimates are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Mr. Gary R. Thompson
Chairman and CEO
Tel: 604-630-9707
email: info@brixtonmetals.com
