T6 H 4M9 B E N C H M a R K M E T a L S . C O M Not FOR Disseminatio N IN the US OR Through US News Wire Services Benchmark Announces Increase and Closing of Non - Brokered Flow
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
NOT FOR DISSEMINATIO
N IN THE US OR
THROUGH US NEWS WIRE
SERVICES
BENCHMARK ANNOUNCES
INCREASE AND CLOSING
OF
NON
-
BROKERED FLOW
-
THROUGH SHARE OFFERI
NG
Edmonton
–
October 15
, 2018
–
Benchmark Metals Inc. (
formerly
Crystal Exploration Inc.
) (
the
“Company”
or
“Benchmark”)
(TSX
-
V: BNCH) (OTCQB: CYRTD) (GER: A2JM2X) (FKT: A7CA
)
–
Further to the Company’s announcement on September 26, 2018, Benchmark is pleased to announce that
it
s
proposed private placement
was
increased from 4.0 million to 4,090,000 flow
-
through shares at an
offering price of $0.25 per share to raise gross proceeds of up to $1,022,500 (the “
Offering
”)
, and the
Offering has been closed in two tranches.
The net p
roceeds of the Offering will be used to incur qualifying Canadian exploration expenses (the
“
Qualifying Expenses
”) on the Lawyers Property, British Columbia, and the Company will renounce the
Qualifying Expenses to the subscribers. Each subscriber will be
entitled to their
pro rata
share of the flow
-
through expenses renounced, a 15% federal tax credit and, if a BC resident, a 20% BC mining expenditures tax
credit, less any government assistance.
The securities for the Offering will bear legends restricting
resale until either February 3, 2019 (for 2,920,000
shares) or February 11, 2019 (for 1,170,000 shares).
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 through 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
REGU
LATION
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.