Benton Files for Approval to Close Non-Brokered Private Placement of Flow-Through and Non-Flow Through Units
Benton Files for Approval to Close Non-Brokered Private
Placement of Flow-Through and Non-Flow Through Units
Thunder Bay ON, December 23, 2022 – Benton Resources Inc. (“Benton” or the “Company”) (TSX-V:
BEX) is pleased to announce that, it has filed documents for approval to close its previously announced
private placement financing of flow-through and non-flow-through units (see December 13, 2023 news
release) for gross aggregate proceeds of $1,376,623.
On receipt of TSX Venture Exchange approval, the Company will issue 8,358,022 flow-through shares units
(“FT Unit”) at a price of $0.14 per FT Unit, each FT Unit consisting of one (1) flow-through common share
and one-half of one share purchase warrant, each full warrant being exercisable for an additional common
share of the Company at a price of $0.20 for 18 months following the date of issuance. The flow-through
shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance
with provisions of the Income Tax Act (Canada).
In addition, the Company will issue 1,720,123 non-flow through units (“NFT Unit”) at a price of $0.12 per
NFT Unit, each NFT Unit consisting of one (1) common share and one (1) common share purchase warrant,
each warrant being exercisable for an additional common share of the Company at a price of $0.20 for 18
months following the date of issuance.
In connection with the Private Placement, the Company is paying finders’ fees in cash and broker warrants,
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 and one day hold period. The Private Placement is subject to
approval by the TSX Venture Exchange.
The proceeds of the Private Placement will be used to advance Benton’s various 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 Inc. is a well-funded mineral exploration company listed on the TSX Venture Exchange
under the symbol BEX. Following a project generation business model, Benton has a diversified, highly-
prospective property portfolio of Gold, Silver, Nickel, Copper, Platinum Group Elements and most-recently
Lithium and Cesium assets. In addition, it currently holds large equity positions in other mining companies
that are advancing high-quality assets. Whenever possible, BEX retains Net Smelter Return (NSR) royalties
with potential long-term cash flow.
Benton also is a 50/50 partner in a strategic alliance with Sokoman Minerals Corp. (TSXV:SIC) through
three large-scale joint venture properties including Grey River Gold, Golden Hope, and Kepenkeck in
Newfoundland.
For further information, please contact:
CHF Capital Markets
Thomas Do, Investor Relations Manager
Phone: 416-868-1079 x 232
Email: [email protected]
Benton Resources Inc.
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: [email protected]
Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX
LinkedIn: @BentonResources
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 Alliance's expectations; risks related to gold price and other
commodity price fluctuations; and other risks and uncertainties related to the Alliance's prospects,
properties and business detailed elsewhere in the Alliances'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 forwa rd-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 Alliance 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 Alliance's expectations or
projections.