- Benchmark Metals (BNCH) has closed its brokered offering for total gross proceeds of $20.6 million
- Under the second tranche of the offering, the company issued a total of 4,166,600 flow-through units at $0.48 per FT unit
- 3,059,300 FT units were issued in connection with the partial exercise of the agents’ over-allotment option
- The net proceeds raised will be used to fund ongoing project development expenditures at the company’s Lawyer’s Gold-Silver Project
- Benchmark Metals is a Canadian-based gold and silver exploration company
- Benchmark (BNCH) is down 3.85 per cent on the day, trading at C$0.375 per share at 12:15 pm ET
Benchmark Metals (BNCH) has closed its previously-announced, upsized, brokered offering for total gross proceeds of $20.6 million.
CEO John Williamson commented on the capital raise.
“The $20.6 million capital raise was provided by existing and new funds. The financial support shows strength and support to develop Canada’s next gold-silver mine. The funds will enable work to add more gold and silver ounces and to advance the project towards a mining decision.”
Under the second tranche of the offering, the company issued a total of 4,166,600 flow-through units at $0.48 per FT unit, which includes 3,059,300 FT units issued in connection with the partial exercise of the agents’ over-allotment option.
Each FT unit consists of one common share issued and one-half of one transferable common share purchase warrant.
The FT units are subject to a statutory four-month hold period, expiring February 15, 2023.
In connection with the closing of the second tranche of the offering, the agents received 6 per cent of the aggregate gross proceeds and were issued 249,996 compensation options.
Benchmark Metals is a Canadian-based gold and silver exploration company.
Benchmark (BNCH) is down 3.85 per cent on the day, trading at C$0.375 per share at 12:15 pm ET.