BNNHF - Benjamin Hill Responds to OTC Markets Request Regarding Recent Unsanctioned Third-Party Promotional Activity
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) ("BHM" or the "Company") announces that, on December 4, 2023, it was made aware of unsanctioned promotional materials that have been posted publicly by at least two third-party websites (the "Promotional Materials").
The Company became aware of the Promotional Materials, posted on PennyPicks.net and BeatPennyStocks.com, on December 4, 2023 after it received communication from the OTC Markets (the "OTC"). At this time, the Company does not believe that the Promotional Materials have had any effect, either positive or negative, on the trading activity of the Company. The Promotional Materials, as identified by the OTC, originate from multiple third-party websites that appear to promote various stocks using readily available public information from news releases previously posted by the Company and adding their own promotional commentary. Both examples of the Promotional Materials provided to the Company by the OTC appear to be in the same format and contain the same language but are from different websites.
Neither the Company nor any of its directors or officers were involved directly or indirectly with the creation, distribution, or payment of the Promotional Materials, including but not limited to through any third-party service provider, including investor relations, marketing and/or consulting service providers.
The statements about the Company contained in the Promotional Materials contain information derived from prior news releases posted by the Company and therefore contain information already made public by the Company.
Of the promotional statements contained in the Promotional Materials that were not derived from the Company's prior news releases or other continuous disclosure materials, portions of the information speak to historical fact. For example, the Company's listed shares have recently traded at a 52 week high, the trading price has increased over the last few months, and third-party sites such as Barchart.com have listed the Company's shares as a "strong buy." These statements are not materially false and, based on the date of the Promotional Materials, not considered by the Company to be misleading.
However, other promotional statements in the Promotional Materials are either less verifiable or impossible to verify, as they contain imprecise timelines or are based on the author's personal views or with respect to future-oriented results (for example, with respect to future trading results of the Company's shares or with respect to the Company's future operational results). The Company can provide no assurance nor guarantee as to any such promotional statements.
After inquiry with management, the directors and control persons of the Company, none of the officers, directors or control persons, nor any of the Company's third-party services providers have, directly or indirectly, been involved in any way (including payment of a third-party) with the creation, distribution, or payment of the promotional materials, including but not limited to the Promotional Materials, related to the Company and its common shares.
After inquiry with management, the directors, control persons and any third-party services providers, no officers, directors, any controlling shareholders nor any of the Company's third-party service providers have sold or purchase the Company's securities within the past 90 days.
Pacificquest Communications Corp. provided investor relations services to the Company from April 1, 2022 until July 20, 2023.
On January 5, 2022, the Company issued 4,012,024 units (each, a "Unit") at a price per Unit of $0.35, each Unit consisting of one common share of the Company (a "Common Share") and one-half of one transferrable common share purchase warrant (each whole warrant a "Warrant"), wherein each Warrant was exercisable for a period of 24 months from the date of issuance at a price of $0.50 per Common Share in exchange for the satisfaction of $1,404,209 in loans payable. On January 31, 2022, the Company completed a private placement of 6,034,989 Units at a price per Unit of $0.35 for a gross proceeds of $2,112,246.15, each Unit consisting of one Common Share and one half of one transferrable Warrant, wherein each Warrant was exercisable for a period of 24 months from the date of issuance at a price of $0.50 per Common Share. On July 14, 2023, the Company completed a private placement of 3,349,999 units (each, a "2023 Unit") at a price per 2023 Unit of $0.12 for a gross proceeds of $401,999.88, each 2023 Unit consisting of a Common Share and one transferrable Warrant, wherein each Warrant was exercisable for a period of 24 months from the date of issuance at a price of $0.20 per Common Share. In each case the Common Shares were issued at a discount to market pursuant to the policies of the Canadian Securities Exchange and all securities issued were subject to the required statutory hold periods. The Warrants issued were at a premium to the market price at the time of the grant and therefore were not discounted.
About Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing The Alotta project in Canadian Yukon Territory. The Alotta project is a porphyry copper-gold-molybdenum prospect, located 50 km south of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt.
On behalf of the Board of Directors
"Cole McClay", CEO Benjamin Hill Mining Corp.
info@benjaminhillmining.com
Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190274