Benton Announces and Files for Exchange Approval for $421,600 Non-Brokered Private Placement
Benton Announces and Files for Exchange
Approval for $421,600 Non-Brokered Private
Placement
Thunder Bay, Ontario--(Newsfile Corp. - December 11, 2020) - Benton Resources Inc.
(TSXV: BEX)
('Benton' or 'the Company') 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.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
About Benton Resources Inc.
Benton Resources 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. Many projects have an up-
to-date 43-101 Report available.
For further information, please contact:
Stephen Stares, President & CEO
Phone:
807-475-7474
Email:
CHF Capital Markets
Cathy Hume, CEO
Phone:
416-868-1079 x231
Email:
Website:
www.bentonresources.ca
Twitter:
@BentonResources
Facebook:
@BentonResourcesBEX
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements relate to information that is based on
assumptions of management, forecasts of future results, and estimates of amounts not yet
determinable. Any statements that express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not statements of historical fact and may
be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the forward-looking statements, including,
without limitation: risks related to failure to obtain adequate financing on a timely basis and on
acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings;
risks related to environmental regulation and liability; the potential for delays in exploration or
development activities or the completion of feasibility studies; the uncertainty of profitability; risks and
uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility
that future exploration, development or mining results will not be consistent with the Company's
expectations; risks related to gold price and other commodity price fluctuations; and other risks and
uncertainties related to the Company's prospects, properties and business detailed elsewhere in the
Company's disclosure record. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Investors are cautioned against attributing undue certainty to
forward-looking statements. These forward looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from the Company's expectations or
projections.
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https://www.newsfilecorp.com/release/70096