Brunswick Exploration Announces Closure of Private Placements for $ 3.34 Million

Brunswick Exploration Inc. (“Brunswick” or “Corporation”) (TSX-V: BRW) is pleased to announce that it has closed its previously announced private placements without brokerage for a total gross profit of $ 3,342,695, consisting of the issue (i) of 6,142,401 units of the corporation (each, “Unit“) at a price of $ 0.175 per unit for gross revenue of $ 1,075,170 and (ii) 11,337,625 Canadian shares of the Corporation.”Shares of FT“), priced at $ 0.20 per FT-share, gross profit of $ 2,267,525 (total”Suggestions“).

Each division consists of one common share of the Corporation (each, “Total share“) and half of one warrant for the purchase of ordinary shares of the Corporation, each whole warrant,”WarrantEach warrant entitles its holder to purchase one ordinary share at a price of $ 0.23 within 24 months of the closing date.

It is expected that the net proceeds from the offerings will be used by the corporation to explore facilities in Quebec, New Brunswick and Nova Scotia, as well as for general corporate purposes.

In connection with these proposals, the Corporation paid fees to the seekers in the amount of $ 41,726.

Insiders’ participation in the amount of $ 105,000 is exempt from the requirements of official evaluation and approval of minority shareholders provided in accordance with Regulation 61-101 on the protection of minority securities holders in special transactions (“Provisions 61-101“) in accordance with sections 5.5 (a) and 5.7 (1) (a) of Rule 61 to 101. The exception is based on the fact that neither the fair market value of private accommodation nor the remuneration paid by such insiders exceeds 25% of Brunswick’s market capitalization. .

The proposals were implemented in accordance with the exceptions from the prospectus of the issue of current securities laws and are subject to final adoption by the TSX Venture Exchange. All securities issued in accordance with the proposals are subject to a legal 4-month retention period ending on September 18, 2022 and September 21, 2022 in accordance with applicable securities laws.

As a result of the placement of 148,861,738 ordinary shares of the Corporation were issued and are outstanding.

About Brunswick

The corporation is a mining company located in Montreal, listed on the TSX Venture Exchange under the symbol BRW. The corporation focuses on the exploration of metals needed for decarbonisation and energy transfer, with a special focus on lithium, tin, nickel and copper. The corporation is focused on rapidly advancing the most comprehensive package of lithium exploration requirements in Eastern Canada.

Investor Relations / Information:

Mr. Killian Charles, President
Phone: (514) 861-4441
kcharles@brwexplo.ca

Warning regarding promising information

This news release contains “forward-looking information” within the meaning of current Canadian securities law based on expectations, estimates and forecasts as of the date of this news release. Any information contained in this document that is not based on historical facts may be considered information about the future within the meaning of Canadian securities laws. Prospective information may be based on expectations, estimates and forecasts as of the date of this news release and may be determined by the words “may”, “would”, “could”, “should”, “will”, “intention”, “plan”, “anticipate” “,” believe “,” evaluate “,” expect “or similar expressions. Prospective information may include, but is not limited to: targeted use of revenue from offers and obtaining final approval from the TSX venture exchange. Investors warn that forward-looking information is not based on historical facts, and reflects estimates or projections regarding future results or events based on judgments, assumptions and estimates of management that are considered reasonable at the date the information is provided.

Although the Corporation believes that the expectations reflected in such forward-looking information are reasonable, such information is associated with risks and uncertainties, and such information should not be relied upon as unknown or unpredictable factors may have material significance. adversely affect the future results, performance, or achievements of the Corporation, and there can be no assurance that such events will occur within the specified time frame or at all. Key factors that may cause actual results to differ materially from those projected in forward-looking information include, but are not limited to: the decision of the Corporation’s management to use the proceeds from the Offers in a manner other than that described herein; and changing global financial conditions, especially in light of the global COVID-19 pandemic; and these risks are set out in the Corporation’s open documents filed with SEDAR at www.sedar.com.The The Corporation disclaims any intent or obligation to update or revise any forward-looking information, as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its regulatory service provider (as defined in TSX Venture Exchange policies) is responsible for the adequacy or accuracy of this release.

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