Benchmark Metals Announces Upsize to Previously Announced Brokered Private Placement Financing to $17.3 Million
Benchmark Metals Inc.
10545 - 45 Avenue NW
250 Southridge, Suite 300
Edmonton, AB CANADA T6H 4M9
Not for distribution to United States newswire services or for dissemination in the United States.
Benchmark Metals Announces Upsize to Previously Announced Brokered Private Placement
Financing to $17.3 Million
Edmonton – September 2 , 2022 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-
V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to announce that the Company has entered
into an agreement with PI Financial Corp. (“PI Financial”) as sole bookrunner on behalf of a syndicate of
agents (the “Agents”), to increase the size of the private placement from C$16.0 million to approximately
C$17.3 million (the “Offering”). If the Agents’ Option (as defined below) is exercised in full, the aggregate
gross proceeds of the Offering will be C$20.7 million.
Pursuant to the amended terms, the Offering will now consist of (i) up to 22,100,000 units (the “Units”) at
a price of $0.42 per Unit and (ii) up to 16,700,000 flow-through units (the “FT Units”) at a price of C$0.48
per FT Unit. Each Unit shall consist of one common share and one-half (1/2) of one transferable common
share purchase warrant (each whole such common share purchase warrant, a “Warrant”). Each FT Unit
shall consist of one flow-through common share and one-half (1/2) of one transferable Warrant to be issued
on a non-flow-through basis. Each whole Warrant shall be exercisable into one additional common share
(a “Warrant Share”) for two (2) years from closing at an exercise price of C$0.65 per Warrant Share.
The Units and FT Units will be offered by way of a best efforts private placement pursuant to exemptions
from the prospectus requirements to residents of all Provinces of Canada and such other jurisdictions as
may be agreed to by the Company and the Agents.
The Company has also granted the Agents an option to increase the size of the offering (the “ Agents’
Option”), which will allow the Agents to offer up to an additional 20% of the Offering, on the same terms.
The Agents’ Option may be exercised in whole or in part at any time prior to the closing of the Offering, in
any combination of Units and FT Units.
The gross proceeds from the sale of the FT Units will be used before 2024 by the Company to incur eligible
“Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are
defined in the Income Tax Act (Canada) (the “Qualifying Expenditures“) related to the Company’s projects
in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units
effective December 31, 2022.
The Offering is expected to close on or about September 29, 2022 or such other date as agreed between the
Company and the Agents, and is subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals. The Units and FT Units are subject to a four month and a day hold period
from the Closing Date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
Benchmark Metals Inc.
10545 - 45 Avenue NW
250 Southridge, Suite 300
Edmonton, AB CANADA T6H 4M9
About Benchmark Metals
Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned
Lawyer's Gold -Silver Project located in the prolific Gold en Horseshoe of northern British Columbia,
Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition
to +20 new target areas along the 20 -kilometre trend. The Company trades on the TSX Venture
Exchange in Canada , the OTCQX Best Market in the United States, and the Tradegate Exchange in
Europe. Benchmark is managed by proven resource sector professionals, who have a track record of
advancing exploration projects from grassroots scenarios through to production.
www.metalsgroup.com
Benchmark is part of the Metals Group of companies, managed by an award-
winning team of professionals who stand for technical excellence,
painstaking project selection and uncompromising corporate governance,
with a proven ability to capitalize on investment opportunities and deliver
shareholder returns.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
For further information, please contact:
Jim Greig
Email: [email protected]
Telephone: +1 604 260 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 Company
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 securities 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.