Vancouver, British Columbia–(Newsfile Corp. – March 26, 2024) – Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) (“BNN” or “company”), following a press release dated March 4, 2024, announces that it has closed its previously announced private placement financing totaling 8,352,750 units (“unit“) Total gross revenue $5,345,760 (“Recruitment“).
The offering was conducted on a “best efforts” private placement basis by Eight Capital, the lead agent and sole bookrunner (“AgentThis offering is for 6,792,500 units (“life unit“) Proceeds totaling $4,347,200 were sold pursuant to the “Listed Issuer Financing'' prospectus exemption, these securities were not subject to any forbearance period, and 1,560,250 units (“Accredited Investor Unit“) The gross proceeds of $998,560 are being offered pursuant to an “accredited investor'' prospectus exemption and these securities are subject to a statutory hold period of four months and one day. As the basic offering exceeded applications, the Agent exercised the option granted by. We will arrange the sale of additional units (“Agent options“), included in the above amount.
Each unit consisted of one common share in the capital of the company (“common stock“) and one common stock purchase warrant (“warrantEach stock acquisition right entitles the holder to purchase one share of our common stock (“warrant share“) Stock Acquisition Rights vest for a period of 36 months from issuance with an exercise price of $0.80 per share.
National Instrument 45-106 – Prospectus Exemption (“NI 45-106“), Part 5A of NI 45-106 (“Financing by listed issuers exemptionSecurities offered under the Listed Issuer Financing Exemption are not subject to any hold period under applicable Canadian securities laws.
Accredited Investor Units are made available to purchasers residing in each province of Canada except Quebec, subject to the Accredited Investor Exemption under Section 2.3 of NI 45-106, with a statutory hold of 4 months + 1 day. Subject to period. Excluded from issuance in accordance with applicable Canadian securities laws.
In connection with this offering, the Company has submitted an offering document (hereinafter referred to as “Provided documents“) on our profile (www.sedarplus.ca) and on our website (www.benjaminhillmining.com).
Upon completion of the Offering, the Company will pay Agent a cash commission equal to 6% of the gross proceeds of the Offering (including the exercise of Agent's options) and receive the Company's non-transferable subscription rights, exercisable at any time prior to the closing of the Offering. has been published. On a date that is 24 months after the Closing Date, obtain a number of Units equal to 6% of the number of Units issued pursuant to the Offering, with an Exercise Price equal to the Offering Price (in each case, subject to certain direct orders); (excluding subscriptions).
The Company intends to use the proceeds from the LIFE Unit to further the exploration and development of the Alotta Property and for general expenses and working capital. The proceeds of the Accredited Investor Units will be used to fund all or a portion of the cash consideration to be paid pursuant to the Company's proposed acquisition of additional common stock of Aion Mining Corp. (“AionIf the acquisition of Aion common stock is completed as planned, the Company will increase its total interest in Aion to a total of 40%.
The offering is being made by the Canadian Securities Exchange (“CSE“).
About Benjamin Hill Mining Corporation
Benjamin Hill Mining Corp. is a Canadian-listed junior exploration company focused on exploration and advancement of the Alotta Project. The Alotta Project is a porphyry copper-gold-molybdenum deposit located 50 km south of the Casino Porphyry deposit in the unglaciated portion of the Dawson Mountains Porphyry/Exotropics, Yukon Territory, Canada.
Additionally, the Company holds a 20% interest in Aion Mining Corp., a company developing the fully permitted La Estrela coal project in Santander, Colombia. The project includes eight known formations of metallurgical and thermal coal.
on behalf of the board of directors
Cole McCray, CEO of Benjamin Hill Mining Corporation
info@benjaminhillmining.com
Forward-looking statements
Some of the statements and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, information regarding the Company's use of the proceeds from the offering. Forward-looking information is based on management's beliefs, opinions, intentions and estimates at the time the information is made, is based on a number of assumptions and is subject to various risks and conditions that may cause actual events to occur. subject to uncertainty and other factors. or results that differ materially from those anticipated or anticipated in the forward-looking information, including the actions of other parties that have agreed to do certain things and the approvals of certain regulatory bodies. Many of these assumptions are based on factors and events outside of our control, and there can be no assurance that they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. We undertake no obligation to update forward-looking information if circumstances or management's estimates or opinions change, and we undertake no obligation to update forward-looking information if circumstances or management's estimates or opinions change, except as required by applicable securities laws. We also undertake no obligation to comment on any analysis, forecast, or statement made by any third party regarding financial matters. results of operations or its securities; Readers are cautioned not to place undue reliance on forward-looking information. We want safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203143.
