- Benchmark Metals (BNCH) has increased its private placement from approximately C$30.0 million to approximately $33.6 million
- The underwriters have agreed to purchase 10,000,000 units, 1,600,000 flow-through units, and 15,180,000 charity flow-through units
- It will use the proceeds from unit sales to fund ongoing project development at its Lawyer’s Gold-Silver Project in BC, as well as for working capital and general corporate purposes
- Benchmark Metals is a Canadian-based gold and silver exploration company
- Benchmark Metals Inc. (BNCH) is down 3.77 per cent on the day, trading at C$1.02 per share at 2:30 pm ET
Benchmark Metals (BNCH) has increased its previously announced private placement from approximately C$30.0 million to approximately $33.6 million.
The underwriters have agreed to purchase 10,000,000 units, 1,600,000 flow-through units, and 15,180,000 charity flow-through units. Each unit will be sold at a price of C$1.00 and consist of one common share and one-half of one transferable common share purchase warrant. Each FT unit will be sold at a price of C$1.25. Each charity FT unit will be sold at a price of C$1.42. Each warrant shall be exercisable into one additional common share for twenty-four months from the closing of the offering at an exercise price of C$1.55.
The company has also granted the Underwriters an over-allotment option, which will allow the underwriters to offer up to an additional 20 per cent of the offering. The over-allotment option may be exercised in whole or in part at any time prior to the closing of the offering.
The offering is expected to close on or about December 9, 2021, and is subject to the receipt of all necessary regulatory approvals. All units are subject to a four-month and a day hold period.
Benchmark Metals Inc. is a Canadian-based gold and silver company advancing its 100 per cent owned Lawyer’s Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia.
Benchmark Metals Inc. (BNCH) is down 3.77 per cent on the day, trading at C$1.02 per share at 2:30 pm ET.