Benton Announces Approval and Closing of Non-Brokered Private Placement Financing
Benton Announces Approval and Closing of
Non-Brokered Private Placement Financing
Thunder Bay, Ontario--(Newsfile Corp. - December 10, 2020) - Benton Resources Inc. (TSXV: BEX)
('Benton' or 'the Company') further to its December 9, 2020 news release, the Company announces that
it has received approval from the TSX Venture Exchange to close its non-brokered private placement
financing.
The Company will issue 3,250,000 flow-through units (FT Units), each FT Unit consisting of 1 flow-
through common share of the Company and ½ of a common share purchase warrant, each full warrant
entitling the holder to purchase an additional common share of the Company at $0.30 for a period of 2
years and 2,138,000 non flow-through units (Units), each Unit consisting of 1 common share of the
Company and 1 common share purchase warrant, each warrant entitling the holder to purchase an
additional common share of the Company at $0.30 for a period of 2 years, for aggregate proceeds of
$1,013,460.
The Company will pay cash finders' fee totalling $49,138 and issue 288,960 broker warrants exercisable
at $0.20 for 2 years, as permitted by the policies of the TSX Venture Exchange.
All securities issued pursuant to this financing are subject to a four-month hold period.
The flow-through shares will entitle the holder to receive tax benefits applicable to flow-through shares in
accordance with the provisions of the Income Tax Act (Canada).
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."
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/70006