BENJAMIN HILL CLOSES PRIVATE PLACEMENT FINANCING AS OVER-SUBSCRIBED
Vancouver, British Columbia, Jan. 31, 2022 (GLOBE NEWSWIRE) — Benjamin Hill Mining Corp. (CSE: BNN) (OTCBB: BNNHF) (“BHM” or the “Company”) is pleased to announce that it has completed its over-subscribed private placement previously announced December 17, 2021. The offering totals 6,034,989 units of the Company (the “Units”) at a price of $0.35 CAD per Unit (the “Offering”) for gross proceeds of $2,112,246.15. The securities issued in the Offering are subject to a hold period of four months and one day from the closing date, expiring May 28, 2022.
The Company paid cash finder’s fees equal to $55,020 CAD and issued 157,200 broker warrants, exercisable any time on or before January 27, 2024 to acquire the same number of shares at an exercise price of $0.50 CAD.
The Company will use the proceeds of the financing carry out work on the inaugural +8000m diamond drill program at the Sonora property and provide general working capital.
About Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico. The Company’s Sonora Gold project covers 6,000 ha of highly prospective mineral concessions in the Caborca gold belt of Sonora, Mexico. The company has been granted full access to the concessions by a single land owner. The property is in close proximity to Magna Gold Corp’s San Francisco mine.
On behalf of the Board of Directors
“Cole McClay”, CEO, Benjamin Hill Mining Corp. info@benjaminhillmining.com
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company’s intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance 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. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbour.
