Benton Resources - CEO, Stephen Stares (right).
CEO, Stephen Stares (right).
Source: Benton Resources.
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  • Benton Resources (BEX) has announced a C$2 million non-brokered private placement
  • The company will use the proceeds to advance its Newfoundland joint venture properties and various Ontario-based exploration projects, as well as for working capital purposes
  • The private placement is expected to close on or before November 1, 2021
  • Benton Resources develops a highly-prospective property portfolio in gold, silver, nickel, copper and platinum group elements
  • Benton Resources (BEX) is up by 5.41 per cent and is currently trading at $0.195 per share

Benton Resources (BEX) has announced a C$2 million non-brokered private placement.

The company will issue up to 5,000,000 flow-through units priced at $0.20 per unit for gross proceeds of $1,000,000.

Each flow-through unit consists of one flow-through common share and one-half of one common share purchase warrant.

Each warrant is exercisable for an additional common share priced at $0.30 for 24 months from the date of issuance.

The flow-through shares entitle the holder to receive tax benefits applicable to flow-through shares in accordance with the Income Tax Act (Canada).

Benton will also issue up to 5,555,556 non-flow-through units priced at $0.18 per unit for aggregate proceeds of up to $1,000,000.

Each unit consists of one common share and one common share purchase warrant.

Each warrant is exercisable for an additional common share priced at $0.30 for 24 months from the date of issuance.

The company will use the proceeds to advance its Newfoundland joint venture properties and various Ontario-based exploration projects, as well as for working capital purposes.

The private placement is expected to close on or before November 1, 2021.

Benton Resources is a mineral exploration company developing a highly-prospective property portfolio in gold, silver, nickel, copper and platinum group elements.

Benton Resources (BEX) is up by 5.41 per cent and is currently trading at $0.195 per share as of 11:51 am ET.

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