Benz Announces Closing Tranche 2 of a $30M Financing
Benz Announces Closing Tranche 2 of a $30M
Financing
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2025) - Benz Mining Corp. (TSXV: BZ)
(ASX: BNZ) (
Benz
or the
Company
) is pleased to announce that, further to its announcements dated
August 12, 2025, August 20, 2025 and October 21, 2025 in relation to the private placement for
30,456,853 new fully paid CHESS Depositary Interests (
CDIs
) in the Company at an issue price of
A$0.985 (C$0.8846) per CDI to raise approximately A$30,000,000 (C$26,943,000) (before costs)
(
Placement
), it has completed the second tranche of the Placement, which was placed to Mr. Jolly, a
Director of Benz (
Tranche 2
Placement
). As previously announced, the Tranche 2 Placement, which
consists of 50,762 CDIs at a price of A$0.985 per CDI to raise an additional A$50,000 (C$44,905)
(before costs), was approved by the shareholders of the Company at the annual general and special
meeting held on December 16, 2025 (Perth, Western Australia time). The participation by Mr. Jolly in
Tranche 2 Placement is considered a "related party transaction" as defined under Multilateral Instrument
61-101-
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
") of Canadian
securities laws. The Tranche 2 Placement is exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value of any CDIs issued to or the
consideration paid by Mr. Jolly exceeds 25% of the Company's market capitalization.
Each CDI represents one underlying common share in the Company on a one for one basis. All 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 their respective date of issuance. There are no
finder's fees payable in connection with the Tranche 2 Placement.
Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of
Canada's exchange rate posted on August 12, 2025 of A$1 = C$0.8981.
The Placement remains subject to the final approval of the TSX Venture Exchange.
- END -
This announcement has been approved for release by the Board of Benz Mining Corp.
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.
To view an enhanced version of this graphic, please click
here
.
For more information, please visit:
https://benzmining.com
.
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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https://www.newsfilecorp.com/release/278451