NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
ROUYN-NORANDA, Quebec, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Brunswick Resources Inc. (TSX-V: BRU.H) (“Brunswick” or the “Corporation”) is pleased to announce that further to its November 17, 2020, news release, the Corporation has received TSX Venture Exchange (the “Exchange”) conditional acceptance and has closed its bridge financing (the “Bridge Financing”), representing the funds needed to fund the Corporation as it works to satisfy the closing conditions for the reverse takeover transaction with Poko Goup Ltd. (the “Proposed Transaction”).
The Bridge Financing consists of the issuance of 7,262,844 common shares in the capital of Brunswick at a price of C$0.019 per share for aggregate gross proceeds of C$137,975.
All securities issued under the Bridge Financing are subject to a four month hold period, expiring April 12, 2021.
The Corporation also confirms that it will complete the proposed consolidation (the “Consolidation”) of its issued and outstanding common shares, on the basis of one new common share for every five (5) common shares of Brunswick issued and outstanding on the effective date of the Consolidation, notwithstanding the completion of the Proposed Transaction.
About Brunswick Resources Inc.
Brunswick is a mineral exploration company with an interest in the Lac Irene property, located in the Province of Quebec, with its head office in Rouyn-Noranda. Brunswick is a "reporting issuer" in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.
For further information, please contact:
| For Brunswick Resources Inc. | For The Poko Group. |
| Christian Dupont, President and CEO Phone :(705) 266-6795 Website: www.brunswickresources.com Email : brunswickresources@gmail.com | Justine O’Hanlon, Director and CEO Phone: (00353) 87 184 7972 Email: justine@orhmarketing.com |
Other Information
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Brunswick should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.”