This press release is provided by GlobeNewswire and is published as received.
VANCOUVER, British Columbia, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Brutus Mining Inc. (“Brutus” or the “Company”) (CSE: BRU) announces that it proposes to undertake two concurrent non-brokered private placements for combined gross proceeds of up to approximately $3,000,000 (together, the “Offerings”): a hard dollar unit (each, a “Unit”) offering (the “Unit Offering”) and a flow-through unit (each, a “FT Unit”) offering (the “FT Offering”).
Each Unit will be sold at a price of $0.35 per Unit, for up to 5,714,285 Units and gross proceeds of up to $1,999,999.75. Each Unit will consist of one (1) common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Share at a price of $0.40 for a period of 24 months from the closing date.
Each FT Unit will be sold at a price of $0.40 per FT Unit, for up to 2,500,000 FT Units and gross proceeds of up to $1,000,000. Each FT Unit will consist of one (1) common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (a “FT Share”) and one common share purchase warrant (a “FT Warrant”). Each FT Warrant will entitle the holder to purchase one Share, which will not be a flow-through share, at a price of $0.43 for a period of 24 months from the closing date.
The Company intends to use the proceeds of the Unit Offering for exploration on the CW Property, the evaluation of new project opportunities and for general working capital purposes. The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. A portion of the Unit Offering may be completed in accordance with the exemption set out in BC Instrument 45–536 Exemption from prospectus requirement for certain distributions through an investment dealer and the corresponding blanket orders and rules in the other Canadian jurisdictions that have adopted the same or a similar exemption from the prospectus requirement (collectively, the “Investment Dealer Exemption”). The Investment Dealer Exemption is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick to a person or company who has obtained advice regarding the suitability of the investment from a person registered as an investment dealer in such person’s or company’s jurisdiction. As required by the Investment Dealer Exemption, the Company confirms that, as of the date of this press release, there is no “material fact” or “material change” (as those terms are defined under applicable securities laws) related to the Company which has not been generally disclosed. The gross proceeds of the FT Offering will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” (as those terms are defined in the Income Tax Act (Canada)) (the “Qualifying Expenditures”) on the CW Property. The Company will renounce all Qualifying Expenditures to the subscribers of the FT Units with an effective date no later than December 31, 2026.
The Company will pay finders’ fees to eligible finders in connection with the Offerings, subject to compliance with applicable securities laws and the policies of the Canadian Securities Exchange. There will be a hold period of four months and one day on all securities issued under the Offerings.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Brutus Mining Inc.
Brutus Mining Inc. (CSE: BRU) is a Vancouver-based mineral exploration company. Its sole mineral property interest is an option to acquire a 100% interest in the CW Property, five contiguous mineral claims totalling 2,894.56 hectares in the Kamloops Mining Division of British Columbia, approximately 100 kilometres north of Kamloops. The Property hosts five reported MINFILE showings with copper and gold mineralization and is at an early stage of exploration. No mineral resources or mineral reserves have been estimated on the Property.
On Behalf of the Board of Directors
Christos Doulis
Chief Executive Officer, Director
+1 (604) 636-7335
info@brutusmining.com
Disclaimer for Forward-Looking Information
This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Maxus’, future growth potential for Maxus and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of copper, gold, tungsten, antimony and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Maxus’ ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements with respect to the Offerings and the intended use of proceeds therefrom; the Company’s objectives, goals or future plans; the commencement of drilling or exploration programs in the future; the completion of the Offerings. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of copper, gold, tungsten, antimony and other metal deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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