By Devika Patel
Knoxville, Tenn., Aug. 14 - Benton Resources Corp. announced it has increased a non-brokered private placement of stock to C$2.6 million from C$2.3 million. The deal priced Aug. 12.
The company now will sell up to 5.2 million flow-through common shares at C$0.50 apiece.
The investor also will receive 6% warrant coverage. The warrants will be exercisable at C$0.50 for 18 months.
Proceeds will be used for upcoming diamond drill programs on the company's Copper Hill Block A and Saganaga gold properties.
Benton is a mineral exploration company based in Thunder Bay, Ont.
| Issuer: | Benton Resources Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2.6 million
|
| Shares: | 5.2 million
|
| Price: | C$0.50
|
| Warrants: | 6% coverage
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 12
|
| Upsized: | Aug. 14
|
| Stock symbol: | TSX Venture: BTC
|
| Stock price: | C$0.39 at close Aug. 12
|
| Market capitalization: | C$28.8 million
|
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