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
Acquisition
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.
Resume Trading
Effective at market open on Wednesday, June 20, 2018, shares of the Company will resume trading.
Private Placement
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:
Insider=Y /
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
[13 placees]
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.
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