Home > News > Benz Mining Corp. announces...

Benz Mining Corp. announces Private Placement of C$10M for Eastmain exploration

Aug 30, 2021

Benz Mining Corp. has entered into a subscription agreement with Peartree Securities for the issuance of 9,090,909 common shares by way of private placement to be issued on a flow-through basis at a price of C$1.10 per share for gross proceeds of $10,000,000.

The gross proceeds received by the company from the sale of the FT Shares will be used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the company's properties in Qu├ębec, by December 31st, 2022 and renounce such expenditures to the subscribers effective December 31, 2021.

The Offering is scheduled to close on or about August 30th, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange (the "Exchange").

About Benz Mining Corp.

Benz Mining Corp. brings together a strong team of geoscientists and finance professionals with a focused strategy to acquire and develop mineral projects with an emphasis on safe, low risk jurisdictions favorable to mining development. Benz is earning a 100% interest from Eastmain Resources Inc. in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec.

Tags: Quebec / Deals & Financial / Gold / All Articles