Benjamin Hill Mining Corp. Announces Private Placement of Units

VANCOUVER, British Columbia, March 04, 2024 (GLOBE NEWSWIRE) -- Benjamin Hill Mining Corp. (CSE: BNN; OTCQB: BNNHF; FFSE: 5YZ0) ("BNN" or the "Company") is pleased to announce that it has entered into an engagement letter agreement with Eight Capital (the “Agent”) pursuant to which the Agent will act as the agent for the Company on a “best efforts” agency basis in connection with a private placement of up to 7,812,500 units (the “Units”) of the Company at a price of $0.64 per Unit (the “Offering Price”) for a gross proceeds to the Company of up to $5,000,000 (the “Offering”). The Offering has been structured such that 6,250,000 Units (the “LIFE Units”) will be offered pursuant to the “listed issuer financing” prospectus exemption whereby these securities will not subject to any hold period and up to 1,256,500 Units (the “Accredited Investor Units”) which will be offered pursuant to the “accredited investor” prospectus exemption whereby these securities will be subject to a statutory hold period of four months and one day.

The Offering:

Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share of the Company (a “Warrant Share”) for a period of 36 months following the issuance thereof at an exercise price of $0.80 per Warrant Share.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the LIFE Units are being made available to purchasers resident in each of the Provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). The securities offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.

The Accredited Investor Units are being made available to purchasers resident in each of the Provinces of Canada, except Quebec, pursuant to the accredited investor exemption under Section 2.3 of NI 45-106, and will be subject to a statutory hold period of four months plus one day from issuance in accordance with applicable Canadian securities laws.

There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.benjaminhillmining.com. Prospective investors should read this Offering Document before making an investment decision.