Benchmark Announces Flow-Through Share Offering
V.BNCH | 40 minutes ago
Edmonton, Alberta--(Newsfile Corp. - April 26, 2019) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (FSE: 87CA) (the "Company" or "Benchmark") - is pleased to announce a proposed non-brokered private placement of up to 9,090,909 flow-through shares at an offering price of $0.22 per share to raise gross proceeds of up to $2,000,000 (the "Offering").
The net proceeds of the Offering will be used to incur qualifying Canadian exploration expenses (the "Qualifying Expenses") on the Lawyers Property, British Columbia, and the Company will renounce the Qualifying Expenses to the subscribers. Each subscriber will be entitled to their pro rata share of the Qualifying Expenses renounced, a 15% federal tax credit and, if a BC resident, at least a 20% BC mining flow-through share tax credit, less any government assistance.
The Company may pay finder's fees or commissions in connection with this placement, as permitted under the policies of the TSX Venture Exchange and as permitted by applicable securities legislation, which is expected to be equal to 7.0% of the gross proceeds raised, plus non-transferable share purchase warrants to acquire non flow-through common shares of the Company equal to 7.0% of the number of Flow-Through Shares sold to a purchaser or purchasers introduced by the finder(s), and exercisable by the finder(s) at $0.22 per share for a period of up to twelve (12) months from the Closing Date of the Private Placement. Warrants are only issuable in connection with the distribution to finders who are registered representatives.
Read more at https://stockhouse.com/news/press-releases/2019/04/26/benchm…
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