Thunder Bay, Ontario–(Newsfile Corp. – May 5, 2026) – Benton Resources Inc. (TSXV: BEX) (“Benton” or the “Company”) announces that, further to its April 9, 2026 news release it has received conditional approval from the TSX Venture Exchange (the “Exchange”) for its non-brokered private placement of flow-through units (the “Financing”).
The Company will issue up to 31,250,000 $0.08 flow-through units (“FT Units”), each FT Unit consisting of one flow-through common share of the Company and one-half of a common share purchase warrant, each full warrant being exercisable at $0.12 for 24 months from the date of issue.
Further, the Company has closed a first tranche of the Financing, issuing 16,287,500 FT Units for aggregate gross proceeds of $1,303,000.
In connection with the first tranche of the private placement, the Company paid $65,400 in cash finders’ fees as well as issued 747,000 non-transferable finders’ warrants exercisable at $0.12 per common share for a period of 24 months from the date of issue. All securities issued pursuant to the Financing will be subject to a four-month hold period.
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) on or before December 31, 2027, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2026.
The first tranche of the Financing was effecte