BENCHMARK METALS INC. ("BNCH")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: December 24, 2019
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 4, 2019:
Number of Shares: 13,673,334 flow-through shares
Purchase Price: $0.45 per share
Warrants: 6,836,667 share purchase warrants to purchase 6,836,667 shares
Warrant Exercise Price: $0.40 for a two year period
Number of Placees: 8 placees
Finder's Fee: $332,262 cash and 738,360 warrants payable to Sprott Capital Partners LP
$36,918 cash and 82,040 warrants payable to PI Financial Corp.
Finder's fee warrants are exercisable at $0.45 per share for two years.
Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. 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.