Benchmark Accelerate S Expiry Date of Cer Tain Warrants Edmonton
Benchmark Metals Inc.
250 Southridge
NW
, Third Floor
Edmonton, AB CANADA T6
H
4M9
b e n c h m a r k m e t a l s . c o m
BENCHMARK ACCELERATE
S EXPIRY DATE OF CER
TAIN WARRANTS
Edmonton
–
November
6
, 2018
–
Benchmark Metals Inc.
(the “
Company
” or “
Benchmark
”) (TSX
-
V:
BNCH)
–
Further to the Company’s News
Release of August 21, 2018 announcing the amendment to the
exercise price of certain outstanding common share purchase warrants to purchase 2,098,315 common
shares (the “
Warrants
”) to $0.225 per share, the Company
has given
notice of its exercise of the right
to
accelerate the expiry date of such Warrants.
These warrants were originally issued at a price of $0.54 per share with
an expiry date of June 28, 2019
pursuant to a private placement of 6,295,000 pre
-
consolidated shares with 6,295,000 share purchase
w
arrants attached. Following a one
-
for
-
three (1:3) share consolidation and the repricing to $0.225
per share
,
this series of Warrants became subject to an Exchange imposed acceleration provision that, should the
closing price of the common shares of the Com
pany on the Exchange be $0.28 or higher for ten consecutive
trading days (which has now occurred), the Company may accelerate the expiry of the Warrants to the date
that is 30 days from the date of notice by the Company announcing the exercise of the accel
eration right.
The Company has elected to accelerate the expiry of the Warrants to December 10, 2018. Any Warrants
from this series that remain unexercised after that date will have no further force or effect.
Assuming all of the Warrants are exercise
d, the Company will receive proceeds of approximately $472,121
for the Company’s working capital purposes.
About Benchmark Metals Inc.
Benchmark is a Canadian mineral exploration company with its common shares listed for trading on the
TSX Venture
Exchange in Canada, the OTCQB Venture Market in the United States and the German
Stock Exchanges in Europe. Benchmark
is managed by proven resource sector professionals, who have
a track record of advancing exploration projects from grassroots scenarios t
hrough to production.
ON
BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson
, Chief Executive Officer
For further information, please contact:
Jim Greig, President
Tel: (604) 260
-
6977
Neither 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 adequacy or accuracy of this release.
This news release may contain certain “forward looking statements”. Forward
-
looking statements involve known and unknown
risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Com
pany
to be
materially different from any future results, performance or achievements expressed or implied by the forward
-
looking
statements. Any forward
-
looking statement speaks only as of the date of this news release and, except as may be required by
applicable se
curities laws, the Company disclaims any intent or obligation to update any forward
-
looking statement, whether as a
result of new information, future events or results or otherwise.