Benton arranges $1.7-million private placement

Executive Summary

• Benton Resources announced a non‑brokered private placement for up to $1.7 million, subject to TSX Venture Exchange approval.
• The company will issue up to 30,909,091 units at C$0.055 per unit, each unit consisting of one common share and one warrant (exercise price C$0.10, five‑year term).
• Proceeds are earmarked to advance Newfoundland projects (including the Great Burnt copper‑gold project) and for general working capital; drilling is slated to resume this week with multiple high‑priority targets.

Key Details

• Financing Structure: Non‑brokered private placement, best‑efforts basis, up to 30,909,091 units.
• Pricing: C$0.055 per unit (includes one common share + one warrant).
• Warrant Terms: Each warrant allows purchase of an additional common share at C$0.10 for five years from issuance.
• Gross Proceeds Target: Up to C$1.7 million.
• Use of Proceeds: Advance Newfoundland exploration projects (Great Burnt and South Pond), general working capital.
• Holding Period: All securities subject to a four‑month hold from the date of issue.
• Regulatory Condition: Financing pending approval by the TSX Venture Exchange.
• Drilling Plans: Resumption of drilling this week; targeting expansion of South Pond and Great Burnt deposits; multiple high‑priority drill targets identified (referencing prior release dated Sept. 9, 2025).
• Qualified Person: Stephen House (PGeo), VP Exploration, approved scientific and technical disclosure under NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)