BENCHMARK METALS INC. ("BNCH")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement; Private Placement-Non-Brokered; Resume Trading
BULLETIN DATE: June 18, 2018
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a letter agreement dated March 21, 2018 (the 'Agreement') between the Company and PPM Phoenix Precious Metals Corp. Pursuant to the terms of the Agreement, the Company may acquire, in stages, a 75% interest in the Lawyers Property in British Columbia (the 'Property'). By way of consideration for an initial 51% interest, the Company will make a cash payment of $200,000 and will issue 1,000,000 common shares at a deemed price of $0.075 per share. The Company must also complete at least $5,000,000 in exploration expenditures on the Property by the third anniversary of the date of this Bulletin, incurring at least $2,000,000 of expenditures in the first year. The Company may increase its ownership in the Property up to 75% by issuing up to an additional 3,000,000 common shares and incurring additional exploration expenditures of up to $4,000,000 by the third anniversary ($9,000,000 in exploration expenditures in total).
A finder's fee of $111,250 is payable to Andrea Fehsenfeld in stages. The fee is payable in cash or shares, subject to a floor price.
Effective at market open on Wednesday, June 20, 2018, shares of the Company will resume trading.
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced May 9, 2018:
Number of Shares: 17,833,318 shares
Purchase Price: $0.18 per share
Warrants: 17,833,318 share purchase warrants to purchase 17,833,318 shares
Warrant Exercise Price: $0.36 for a two year period
Number of Placees: 136 Placees
Insider / Pro Group Participation:
Name ProGroup=P # of Shares
John Williamson Y 416,666
Toby Pierce Y 100,000
James Greig Y 66,666
Sean Mager Y 246,188
Michael B. Dufresne Y 55,555
678119 Alberta Ltd.
(John Williamson) Y 138,333
Aggregate Pro Group Involvement P 1,253,331
Finder's Fee: $6,300 cash and 35,000 warrants payable to Canaccord Genuity Corp.
$17,280 cash and 96,000 warrants payable to Haywood Securities Inc.
$48,300.23 cash and 268,335 warrants payable to PI Financial Corp.
$26,381 cash and 146,560 warrants payable to Mackie Research Capital Corporation
$1,206 cash and 6,700 warrants payable to Hampton Securities Ltd.
$7,800 cash payable to Asia Asset Management
$75,000 cash payable to Fort Capital Partners
Finder's fee warrants are exercisable at $0.36 per share for two years.
Please refer to the Company's news releases dated March 22, 2018, May 9, 2018 and June 14, 2018 for further details.