By Sheri Kasprzak
New York, Dec. 2 - Benton Resources Corp. said it has completed its previously announced private placement, including a partially exercised greenshoe, for C$2,512,909.
The company sold 3,717,500 flow-through units at C$0.40 each and 2,931,171 non flow-through units at C$0.35 each.
The flow-through units are comprised of one flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.50 each for 18 months.
The non flow-through units include one share and one warrant. The warrants are exercisable at C$0.40 each for 18 months.
Placement agents Northern Securities Inc. and Canaccord Capital Corp. partially exercised an over-allotment option that had been granted for up to 30% of the offering size.
The offering was first announced Sept. 29 as a C$2 million offering under the same pricing terms.
Proceeds will be used for working capital.
Based in Thunder Bay, Ont., Benton Resources is a mineral exploration company.
| Issuer: | Benton Resources Corp.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$2,512,909 (includes greenshoe for C$512,909)
|
| Placement agents: | Northern Securities Inc. (lead); Canaccord Capital Corp.
|
| Pricing date: | Sept. 29
|
| Settlement date: | Dec. 1
|
| Stock price: | C$0.30 at close Sept. 29
|
| Stock price: | C$0.35 at close Dec. 1
|
|
|
| Flow-through units
|
| Issue: | Units of one share and one half-share warrant
|
| Shares: | 3,717,500
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
|
|
| Non flow-through units
|
| Issue: | Units of non flow-through share and one warrant
|
| Units: | 2,931,171
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.40
|
|
|
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