- Benchmark Metals (BNCH) has announced a brokered private placement for gross proceeds of up to $16 million
- The offering will consist of up to 19,100,000 units for $0.42 per unit and up to 16,700,000 flow-through units for $0.48 per FT unit
- The net proceeds raised will be used to fund ongoing project development expenditures at the company’s Lawyer’s Gold-Silver Project
- The offering is expected to close on or about September 29, 2022
- Benchmark Metals is a Canadian-based gold and silver exploration company
- Benchmark (BNCH) is down 7.78 per cent on the day, trading at C$0.415 per share at 4:30 pm ET
Benchmark Metals (BNCH) has announced a brokered private placement for gross proceeds of up to $16 million.
Benchmark has entered into an agreement with PI Financial Corp. as sole bookrunner on behalf of a syndicate of agents.
The offering will consist of up to 19,100,000 units for $0.42 per unit and up to 16,700,000 flow-through units for $0.48 per FT unit.
Each unit and FT unit shall consist of one common share and one-half of one transferable common share purchase warrant. Each whole warrant may be exercised to acquire one additional common share for two years at an exercise price of C$0.65.
The company has also granted the agents an over-allotment option. Benchmark has agreed to pay the agents a six per cent cash commission and issue non-transferable warrants equal to six per cent of the total number of securities issued under the offering.
The net proceeds raised will be used to fund ongoing project development expenditures at the company’s Lawyer’s Gold-Silver Project, and for working capital and general corporate purposes.
The offering is expected to close on or about September 29, 2022.
All securities issued will be subject to a statutory four-month hold period.
Benchmark Metals is a Canadian-based gold and silver exploration company.
Benchmark (BNCH) is down 7.78 per cent on the day, trading at C$0.415 per share at 4:30 pm ET.