BENCHMARK METALS INC. ("BNCH")
BULLETIN TYPE: Private Placement-Brokered
BULLETIN DATE: September 22, 2020
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Brokered Private Placement announced August 18, 2020 and August 19, 2020:
Number of Shares: 21,694,926 shares
3,753,128 Flow-Through "A" shares
9,305,040 Flow-Through "B" shares
Purchase Price: $1.30 per share
$1.56 per Flow-Through "A" share
$1.75 per Flow-Through "B" share
Warrants: 14,075,693 share purchase warrants to purchase 14,075,693 shares
Warrant Exercise Price: $1.80 for a two-year period
Number of Placees: 138 placees
Insider / Pro Group Participation:
Name ProGroup=P # of Shares
Aggregate Pro Group Involvement P 19,230 shs
70,000 F/T "A"
1,013,363 F/T "B"
Finder's Fee: Sprott Capital Partners - $1,685,776.36 (includes a Corporate Advisory Fee in the amount of $1,950.00) and 1,142,326 Compensation Warrants that are exercisable into common shares at $1.30 per share for a two-year period.
Clarus Securities Inc. - $481,093.24 and 326,379 Compensation Warrants that are exercisable into common shares at $1.30 per share for a two-year period.
PI Financial Corp. - $240,546.62 and 163,189 Compensation Warrants that are exercisable into common shares at $1.30 per share for a two-year period.
Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the Company issued a news release dated September 18, 2020 announcing the closing of the first tranche 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.