Benton Closes $1.836 Million in First Tranche of Private Placement Financing

Executive Summary

• Benton Resources received conditional TSX Venture approval for a $2.4 M private placement and closed the first tranche, raising $1.835 M in gross proceeds.
• The financing consists of 33,372,910 units priced at $0.055 each; each unit includes one common share and one warrant to purchase an additional share at $0.10 for five years.
• Proceeds will be used to advance Benton’s Newfoundland projects and for general working capital.

Key Details

• Financing Structure: Private placement of 33,372,910 units at $0.055 per unit.
• Gross Proceeds (First Tranche): $1,835,510.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price $0.10; exercisable for five years from issue date.
• Use of Proceeds: Advancement of Newfoundland exploration projects and general working capital.
• Regulatory Conditions: Subject to final TSX Venture Exchange approval; securities subject to a four‑month hold period.
• Qualified Person: Stephen House, P.Geo., VP Exploration, approved scientific and technical disclosure per NI 43‑101.

Notable Quotes

• “On behalf of the Board of Directors of Benton Resources Inc.” – Stephen Stares, President & CEO.