Mining & Metals
Benton Resources Raising $2 Million in a Share-Unit Sale to Eric Sprott
Benton Resources (BEX.V) on Wednesday it is raising $2 million in a private placement of share units to mining financier Eric Sprott.Sprott will acquire 28.57-million units priced a at $0.07 apiece and made up of a share and a three-year warrant to buy a share for $0.10. Closing of the private placement is expected on or before June 15."Benton is pleased to have Eric Sprott's continued support as our largest shareholder. This financing positions us to advance our recently acquired natural hydrogen and helium prospects in Newfoundland, in partnership with Metals Creek Resources, while also supporting progress across our broader portfolio of critical minerals projects in the province," chief executive Stephen Stares said.Proceeds from the sale of the units will be used to advance its recently acquired hydrogen prospects in Newfoundland that are held on a 50/50 basis with Metals Creek Resources and for working capital needs.Shares of the company were last seen up $0.015 to $0.085 on the TSX Venture Exchange.Price: $0.09, Change: $+0.02, Percent Change: +21.43%
$BEX.V
