BENCHMARK METALS INC. ("BNCH") BULLETIN TYPE: Private Placement-Brokered BULLETIN DATE: October 8, 2019 TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced September 5, 2019:
Number of Shares: 18,333,334 shares 5,000,000 flow-through shares
Purchase Price: $0.30 per share $0.40 per flow-through share
Warrants: 9,166,663 share purchase warrants to purchase 9,166,663 shares
Warrant Exercise Price: $0.40 for a two year period
Number of Placees: 57 placees
Insider / Pro Group Participation:
Insider=Y / Name ProGroup=P # of Shares 2176423 Ontario Ltd. (Eric Sprott) Y 13,333,334 units Aggregate Pro Group Involvement P 729,999 units 25,000 f/t [9 placees]
Agent's Fee: Sprott Capital Partners LP - $364,905.01 and 646,350 Agent's Warrants that are exercisable into common shares at $0.30 per share for a two year period.
Richardson GMP - $16,499.99 and 588,333 Agent's Warrants that are exercisable into common shares at $0.30 per share for a two year period.
PI Financial Corp. - $40.545.00 and 71,817 Agent's Warrants that are exercisable into common shares at $0.30 per share for a two year period.
Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the Company issued news releases dated September 27, 2019 and October 7, 2019 and announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. ________________________________________
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