Benton Announce $2.5 Million Flow-Through Financing
MWN-AI** Summary
Benton Resources Inc. (TSXV: BEX) has announced plans to undertake a non-brokered private placement, aiming to raise up to $2.5 million through a flow-through financing arrangement, subject to the approval of the TSX Venture Exchange. The offering will consist of up to 31,250,000 flow-through units (FT Units), priced at $0.08 each. Each FT Unit comprises one flow-through common share and a half warrant, where each full warrant can be exercised at $0.12 for two years following issuance. The financing is designed to fund eligible Canadian exploration expenses that meet the criteria for "flow-through critical mineral mining expenditures," as defined by the Income Tax Act (Canada). These expenses must be incurred by December 31, 2027, with the intention to renounce the qualifying expenditures to investors by December 31, 2026.
The proceeds from this financing will support the advancement of Benton’s exploration projects, including their flagship Copper-Gold Great Burnt Project in Newfoundland, which boasts a significant mineral resource estimate. The project features extensive geological potential with six known Cu-Au-Ag zones and numerous untested exploration targets. Benton has reported impressive drilling results, including high-grade intercepts, indicating strong exploration upside.
Benton Resources is recognized for its diversified asset portfolio and strategic holdings in other mining companies. With a focus on enhancing its high-quality mineral exploration initiatives, the company is well-positioned for growth in the mining sector. Interested parties can find more information about the financing and Benton’s properties by contacting the company directly through the provided contact details.
MWN-AI** Analysis
Benton Resources Inc. (TSXV: BEX) has announced a non-brokered flow-through private placement to raise up to $2.5 million, positioning itself strategically for the upcoming exploration developments, particularly in its Great Burnt Project in Newfoundland. This financing initiative, contingent upon TSX Venture Exchange approval, reflects Benton’s commitment to advancing its exploration portfolio by leveraging tax incentives for investors under the flow-through share program.
The structure of the offering involves issuing up to 31,250,000 flow-through units at $0.08 each, complete with a half-warrant that is exercisable at $0.12 over a two-year period. This setup not only attracts capital but also incentivizes investors through the potential appreciation of the warrants. The directed use of proceeds toward eligible Canadian exploration expenses aligns well with investor interests and government support for mining ventures, particularly as Benton's exploration activities have shown promising results. The Great Burnt Project, with a Mineral Resource estimate of 667,000 tonnes at 3.21% copper, highlights significant copper and gold potential, evidenced by previously reported drill results.
Investors should take note of the inherent risks associated with mining and exploration, including regulatory, geological, and market uncertainties. However, given Benton’s diversified property portfolio and its history of successful exploration results, the potential for upside appears compelling.
The hold period of four months plus one day for the flow-through shares adds a layer of investment security, as it encourages long-term holding and diminishes immediate sell pressure. Overall, with a robust project pipeline and targeted funding strategy, Benton Resources presents a prudent investment opportunity within the resource sector for those comfortable with the associated risks. Investors should consider monitoring the progress of the flow-through offering and any subsequent exploration updates from the company.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Thunder Bay, Ontario--(Newsfile Corp. - April 9, 2026) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that, subject to approval by the TSX Venture Exchange (the "Exchange"), it intends to complete a non-brokered flow-through private placement (the "Offering") for gross proceeds of up to $2.5 million.
The Offering will consist of up to 31,250,000 $0.08 flow-through units ("FT Units"), each FT Unit consisting of one flow-through common share of the Company and one-half of a common share purchase warrant, each full warrant being exercisable at $0.12 for 24 months from the date of issue.
All FT Units issued pursuant to the Offering, which is subject to Exchange acceptance, will be subject to a hold period in Canada of four months plus one day from closing.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") on or before December 31, 2027, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2026.
The Offering may involve eligible finders, with finder's fees payable in accordance with Exchange policies.
The proceeds of the Offering will be used to advance the Company's various exploration projects.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton is focused on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and 482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu. Drilling at the South Pond Gold Zone, approximately 7.5 km north of the Great Burnt Copper-Gold Zone, has confirmed a robust gold-mineralized system over 2.7 km with results of 74.20 m of 1.43g/t Au and 43.75 m of 1.62g/t Au and is open for expansion in all directions.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-474-9020
Email: sstares@bentonresources.ca
Nick Konkin, Investor Relations
Phone: 647-249-9298 ext. 322
Email: nick@grovecorp.ca
Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291753
FAQ**
How does the flow-through private placement by Benton Resources Inc. (BEX) potentially impact the local economy and investment landscape in Thunder Bay, Ontario, specifically in relation to the mining sector?
What are the implications of Benton Resources Inc.'s focus on "Canadian exploration expenses" as defined in the Income Tax Act for the long-term sustainability of mining projects in Thunder Bay, Ontario, including those of Benton Resources Inc. (BNTRF)?
Given Benton Resources Inc.'s significant exploration projects, what are the environmental considerations and community impacts associated with the expansion of mining activities in and around Thunder Bay, Ontario?
How does the performance of Benton Resources Inc. (BNTRF) in this offering relate to the overall trends in the mining industry in Ontario and its potential effects on local employment and resource development in Thunder Bay?
**MWN-AI FAQ is based on asking OpenAI questions about Benton Resources Inc (OTC: BNTRF).
NASDAQ: BNTRF
BNTRF Trading
0.0% G/L:
$0.0511 Last:
2,000 Volume:
$0.0511 Open:
