Eric Sprott Announces Holdings in Benton Resources Inc.
Toronto, Ontario--(Newsfile Corp. - June 3, 2021) - Eric Sprott announces that today, he acquired ownership of 10,000,000 flow-through units of Benton Resources Inc., through a private placement, at $0.20 per unit for aggregate consideration of $2,000,000. Each flow-through unit consists of one common share (that qualifies as a "flow-through" share) and one-half of one common share purchase warrant (warrant), with each whole warrant entitling the holder to acquire one common share at $0.25 for 36 months from the date of issuance.
Mr. Sprott now owns and controls 10,000,000 common shares and 5,000,000 warrants, representing approximately 8.6% of the issued and outstanding common shares on a non-diluted basis, and approximately 12.4% on a partially diluted basis assuming exercise of the warrants. Prior to this acquisition, Mr. Sprott did not beneficially own or control any securities of Benton Resources.
The common shares were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Benton Resources including on the open market or through private acquisitions or sell securities of Benton Resources including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Benton Resources is located at 2110-650 West Georgia Street, Vancouver, BC V6B 4N8. A copy of Mr. Sprott's early warning report will appear on Benton Resources's profile on SEDAR and may also be obtained by calling (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
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