Benton Resources Inc.
BENTON ANNOUNCES AND FILES FOR EXCHANGE APPROVAL FOR $421,600 NON-BROKERED PRIVATE PLACEMENT
Thunder Bay ON, December 11, 2020 – Benton Resources Inc. (‘Benton’ or ‘the Company’) (TSX-V: BEX) announces that, due to increased interest by investors, it has filed documents with the TSX Venture Exchange seeking final approval for an additional non-brokered private placement of units (the “Private Placement”) beyond the private placement previously announced on November 19, 2020 and December 9, 2020.
On receipt of all regulatory approvals, the Company will issue 2,480,000 units at a price of $0.17 per unit with each unit consisting of 1 common share of the Company and 1 common share purchase warrant, with each warrant entitling the holder to acquire an addition common share of the Company at $0.30 for 24 months from the date of issue, for aggregate gross proceeds of $421,600.
Upon receipt of regulatory approval and in connection with the private placement, the Company will pay $25,296 in cash finders’ fees and will issue 148,800 finders’ warrants exercisable at $0.20 for 24 months from the date of issue, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period.
The proceeds of the financing will be used to advance Benton’s Far Lake IOCG project and its various early-stage Ontario-based exploration projects, and for working capital purposes.
About Benton Resources Inc.
Benton Resources (TSXV: BEX) is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company’s website. Most projects have an up-to-date 43-101 Report available.
For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: sstares@bentonresources.ca
Cathy Hume, CHF Capital Markets
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX
Source: https://www.bentonresources.ca/benton-announces-and-files-for-exchange-approval-for-421600-non-brokered-private-placement/
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