Benz Announces Closing of A$75M Financing
Benz Announces Closing of A$75M Financing
Vancouver, British Columbia--(Newsfile Corp. - February 5, 2026) - Benz Mining Corp. (TSXV: BZ)
(ASX: BNZ) (
Benz
or the
Company
) is pleased to advise that, further to its announcement dated
January 28, 2026 in relation to the private placement for 32,327,587 new fully paid CHESS Depositary
Interests (
CDIs
) in the Company at an issue price of A$2.32 (C$2.20) per CDI to raise A$75,000,000
(C$$71,227,500) (before costs) (
Placement
), it has successfully completed the Placement. Each CDI
represents one underlying common share in the Company on a one for one basis.
Proceeds from the Placement will enable Benz to significantly increase activities across its gold
portfolio, with a focus on its 100%-owned Glenburgh Gold Project in Western Australia - a new frontier
gold district with multi-million-ounce potential.
Funding will be applied towards continuation of RC and diamond drilling programs targeting resource
growth, infill drilling and extension of known mineralisation at the Icon, Tuxedo and broader Glenburgh
system, as well as follow-up drilling at the Egerton Project, geological and technical studies, including
assay analysis, geological modelling, interpretation and targeting to support resource definition and
growth, drill access preparation, heritage clearances, environmental approvals and associated field
costs across the Company's project portfolio and general corporate and administrative costs to support
ongoing operations and exploration activities.
Pursuant to the terms of a capital raising engagement letter (
Capital Raising Engagement
), dated as
of January 28, 2026, between Euroz Hartleys Limited (
Euroz
), SCP Resource Finance LP (
SCP
) and
the Company, Euroz and SCP acted as Joint Lead Managers to the Placement and provided certain
capital raising services to the Company in respect thereof. In accordance with the terms of the Capital
Raising Engagement, the Joint Lead Managers were paid a combined commission equal to 4% of the
gross proceeds raised under the Placement, in the aggregate amount of A$3,000,000 (C$$2,849,100)
(plus GST) (
Capital Raising Fee
), of which they will pay a sum equal to A$100,000 (C$$94,970) to
Tamesis Partners LLP for services rendered to the Company for the Placement. The Euroz Hartleys
portion of the fee will be payable in cash and the SCP portion of the fee will be paid by the issue to SCP
of 646,552 Benz CDIs (based on a price an issue price of A$2.32 or C$2.20).
The Placement remains subject to the final approval of the TSX Venture Exchange. The CDIs and
underlying common shares issued in connection with the Placement are subject to a statutory hold
period in Canada of four months and one day from the date of issuance.
Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of
Canada's exchange rate posted on January 28, 2026, 2026 of A$1 = C$0.9497.
This announcement has been approved for release by the Board.
For more information, please contact:
Mark Lynch-Staunton
Chief Executive Officer
Benz Mining Corp.
E:
T: +61 8 6143 6702
About Benz Mining Corp.
Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the
TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold
Project in Quebec, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western
Australia.
Benz's key point of difference lies in its team's deep geological expertise and the use of advanced
geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to
rapidly grow its global resource base and solidify its position as a leading gold explorer across two of
the world's most prolific gold regions.
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For more information, please visit:
https://benzmining.com/
.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information"
or "forward-looking statements" (collectively Forward-Looking Information) as such term is used in
applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to,
disclosure regarding the
use of proceeds from the Placement, planned exploration and related activities
on the Eastmain Gold Mine and the Glenburgh and Mt Egerton projects, including the anticipated
benefits thereof, and the final approval of the Placement by the TSX Venture Exchange. In certain cases,
Forward-Looking Information can be identified by the use of words and phrases or variations of such
words and phrases or statements such as "anticipates", "complete", "become", "expects", "next steps",
"commitments" and "potential", in relation to certain actions, events or results "could", "may", "will",
"would", be achieved. In preparing the Forward-Looking Information in this news release, the Company
has applied several material assumptions, including, but not limited to, that the tenements associated
with the Glenburgh and Mt Egerton projects that are still pending grant or undergoing the renewal
process will be granted and/or renewed, as applicable, in a timely manner and on reasonable terms, all
conditions for completion of the Placement, including approval of the TSX Venture Exchange for the
Placement will be satisfied, in a timely manner; the Company will be able to raise additional capital as
necessary; the current exploration, development, environmental and other objectives concerning the
Company's Projects (including Glenburgh and Mt Egerton) can be achieved; and the continuity of the
price of gold and other metals, economic and political conditions, and operations.
Forward-Looking Information is subject to a variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from those projected in such Forward-
Looking Information. Factors that could cause the Forward-Looking Information in this news release to
change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to
prove not to be valid or reliable, that occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company's financial condition and development plans
change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the
Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at
www.sedarplus.ca
and
www.asx.com.au
. Accordingly, readers should not place undue reliance on
Forward-Looking Information. The Forward-Looking Information in this news release is based on plans,
expectations, and estimates of management at the date the information is provided and the Company
undertakes no obligation to update these forward-looking statements, other than as required by
applicable law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
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