Benton Receives Approval for Conditional Change and Closes $ 2.25 Million Circulate-Via Personal Placement with Participation by Eric Sprott | 2021-05-31 | Press Releases

Thunder Bay, Ontario – (Newsfile Corp. – Might 31, 2021) – Benton Sources Inc. (TSXV: BEX) (“Benton” or “the Firm”) declares that it has closed its beforehand introduced flow-through personal placement ‘models (the “Personal Placement”) (see the Firm’s press launch dated Might 14, 2021).

The corporate will situation 11,250,000 flow-through models at a value of $ 0.20 per unit, every unit being composed of 1 flow-through widespread share of the corporate and one-half widespread share buy warrant, every warrant integer giving the correct to amass one further widespread share of the Firm at $ 0.25 for 36 months from the date of situation, for whole gross proceeds of $ 2,250,000. Mr. Eric Sprott subscribed $ 2,000,000 within the personal placement.

Eric Sprott acquired 10,000,000 flow-through models as a part of the providing for approximate consideration of $ 2,000,000. After the closing of the Providing, Mr. Sprott beneficially owns or controls 10,000,000 widespread shares of the corporate and 5,000,000 share buy warrants, representing roughly 8.6% of the issued and excellent widespread shares of the corporate on a non-consolidated foundation. diluted and roughly 12.4% of the issued and excellent widespread shares of the Firm on {a partially} diluted foundation assuming the train of the warrants acquired hereunder and forming a part of the Items. Previous to the Providing, Mr. Sprott didn’t beneficially personal or management any securities of the Firm.

The models have been acquired by Mr. Sprott for funding functions. Mr. Sprott has a long-term view of investing and will purchase further securities of Benton Sources, together with on the open market or via personal acquisitions, or promote securities of the corporate, together with on the open market or via personal divestitures sooner or later, relying on market circumstances, reformulation of plans and / or different elements that Mr. Sprott deems related sometimes.

A replica of Mr. Sprott’s early warning report will seem on Benton’s profile on SEDAR and may also be obtained by calling Mr. Sprott’s workplace at 416-945-3294 (200 Bay St., Suite 2600, Royal Financial institution Plaza, South Tower, Toronto, Ont., M5J 2J1).

The gross proceeds from the sale of flow-through models might be used for exploration bills on the Firm’s mining tasks, as permitted by the Earnings Tax Act (Canada) to qualify as an expense. exploration in Canada (“CEE”) inside the which means of the Tax Act.

As a part of the personal placement, the Firm can pay an intermediation fee composed of models and remuneration warrants. Every unit might be composed of 1 widespread share of the Firm and one half of a typical share buy warrant, every complete warrant entitling its holder to amass one further widespread share of the Firm at $ 0.25. for 36 months from the date of situation. Every warrant will entitle its holder to amass one unit at a value of $ 0.20 for a interval of 36 months from the date of situation. All securities issued below the personal placement might be topic to a 4 month maintain interval.

On behalf of the Board of Administrators of Benton Sources Inc.,

“Stephen is watching”

Stephen Stares, President

About Benton Sources Inc.

Benton Sources is a well-funded Canadian venture generator with a diversified portfolio of properties within the Gold, Silver, Nickel, Copper and Platinum group components. Benton has a number of top quality tasks out there for choice which may be considered on the corporate’s web site. Most tasks have an up-to-date 43-101 report out there.

Events all in favour of searching for extra info on the properties out there for the choice might contact Mr. Stares on the quantity beneath.

For extra info, please contact:

Stephen Stares, President and CEO

Name: 807-475-7474

E-mail:[email protected]

Capital markets in CHF

Cathy Hume, CEO

Name: 416-868-1079 ext 251

E-mail:[email protected]

Web site: www.bentonresources.ca

Twitter: @BentonResources

Fb: @BentonResourcesBEX

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

The data contained on this doc incorporates “forward-looking statements” inside the which means of relevant securities legal guidelines. Ahead-looking statements relate to info based mostly on administration’s assumptions, forecasts of future outcomes and estimates of quantities not but determinable. All statements that specific predictions, expectations, beliefs, plans, projections, aims, assumptions or future occasions or efficiency aren’t statements of historic truth and could also be “forward-looking statements”.

Ahead-looking statements are topic to numerous dangers and uncertainties that would trigger precise occasions or outcomes to vary from these mirrored in forward-looking statements, together with, with out limitation: dangers referring to the shortcoming to acquire satisfactory funding on a well timed foundation and on acceptable phrases; dangers related to the result of authorized proceedings; political and regulatory dangers related to mining and exploration; dangers related to sustaining inventory market quotes; dangers associated to environmental laws and legal responsibility; the potential for delays in exploration or improvement actions or the completion of feasibility research; uncertainty of profitability; dangers and uncertainties related to the interpretation of drilling outcomes, geology, grade and continuity of mineral deposits; dangers related to the inherent uncertainty of manufacturing and price estimates and the potential for unanticipated prices and bills; the outcomes of pre-feasibility and feasibility research, and the likelihood that future exploration, improvement or mining outcomes might not meet the Firm’s expectations; dangers related to fluctuations within the value of gold and different commodities; and different dangers and uncertainties referring to the prospects, properties and operations of the Firm detailed elsewhere within the Firm’s disclosure file. If a number of of those dangers and uncertainties materialize, or if the underlying assumptions show to be incorrect, precise outcomes might differ materially from these described in forward-looking statements. Traders are cautioned in opposition to assigning undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Firm assumes no obligation to replace or revise them to mirror new occasions or circumstances. Precise occasions or outcomes might differ materially from the Firm’s expectations or projections.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/85831

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