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Financings

Benton Closes $1.9 Million Financing

By The Northwire Desk — AI Analysis Oct 16, 2025 · 17:50 BEX · 0.10 Benton Resources Inc.
BEX · Price

Executive Summary

  • Benton Resources Inc. has closed its private placement financing for aggregate gross proceeds of $1,980,010.
  • The company issued 36,000,182 Units at a price of $0.055 per Unit, with each Unit consisting of one common share and one common share purchase warrant.
  • Proceeds will be used to advance the company's Newfoundland projects and for general working capital purposes.

Key Details

  • Transaction Structure: Private placement of Units priced at $0.055 per Unit.
  • Gross Proceeds: $1,980,010.
  • Securities Issued: 36,000,182 Units.
  • Warrant Terms: Each Unit includes one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of $0.10. The warrants are valid for a period of 5 years from the date of issue.
  • Hold Period: All securities issued are subject to a four-month hold from the date of issue.
  • Use of Proceeds: Advancement of Newfoundland projects and general working capital.
  • Fees: No finders' fees were paid in connection with this financing.
  • Previous Releases: This closing follows news releases dated September 17, 2025, September 23, 2025, September 29, 2025, and October 8, 2025.

Notable Quotes

  • "Stephen Stares, President" (Signed on behalf of the Board of Directors)
Read the original news release →

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