Benton Resources Inc. Updates Vinland Shares Spin-Out
Benton Resources Inc. Updates Vinland
Shares Spin-Out
Thunder Bay, Ontario--(Newsfile Corp. - April 28, 2025) - Further to its April 25, 2025 news release,
Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") announces that the Company's
planned spin-out of approximately half of its shares of Vinland Lithium Inc has been completed. Accounts
holding at least 5,000 Benton shares will see approximately 50 Vinland shares credited for each 5,000
Benton shares owned with the credit effective Wednesday April 30, 2025.
Details of the spin-out
are contained in the Company's February 4, 2025 Management Information
Circular, filed under the Company's profile on SEDAR+. Benton will spin-out to its shareholders a total of
2,025,126 common shares of Vinland and will continue to hold 2,000,000 Vinland shares.
Vinland has
approximately 10,000,000 issued shares. Sokoman Minerals Corp. will also be spinning out the same
number of Vinland
shares to its shareholders. Benton shares after the spin-out are herein "New Benton"
shares are are identical to Benton shares currently listed ("Old Benton"), except that they are post-spin-
out of Vinland. New Benton shares have a new identifying security number CA0832971018.
No Vinland Shares will be listed on the Exchange on closing of the Plan of Arrangement; however,
Vinland has made a separate application to the Exchange for listing of the Vinland Shares.
The Benton
New Common Shares will be listed on the Exchange at market open on Tuesday April 30, 2025, and the
Benton Old Common Shares will be delisted from the Exchange effective close of business April 29,
2025. Accounts holding less than 5,000 Benton shares will not participate in the Vinland share
distribution.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange
under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large
equity positions in other mining companies that are advancing high-quality assets. Whenever possible,
BEX retains net smelter return (NSR) royalties with the potential for long-term cash flow.
Benton is focused on advancing its high-grade Copper-Gold Great Burnt Project in central
Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and
482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike
and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for
discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil
anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu,
including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
Parties interested in seeking more information about properties available for option can contact Mr.
Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Phone:
807-474-9020
Email:
Nick Konkin, Investor Relations
Phone
: 647-249-9298 ext. 322
:
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;
and other risks and uncertainties related to the Company's prospects, properties and business
detailed elsewhere in the Company's disclosure record. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/249997