GOOOOD MORNING MUSK....EEY's. That NR is clearly telling us to follow Benchmark Newswires on their Lawyers Project property. NR clearly is giving shareholders a TIP....a HINT......a TASTE......of the many DOORS, opportunities our MUSK holds in the future.
The same will be acknowledge here at MUSK... Benchmarks Metals success will give wind to MUSK and visa versa in all due time!!
Edmonton, Alberta--(Newsfile Corp. - December 9, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to announce that it has closed its previously announced bought deal financing (the "Offering") for aggregate gross proceeds of $40,266,720. The Company is also pleased to announce that Yamana Gold Inc. has made a strategic investment in Benchmark by participating in the Offering and as a result will own approximately 3.99% of Benchmark on a non-diluted basis.
CEO John Williamson commented, "Following the Offering we will have more than $50 million available to explore and advance the Lawyers Gold-Silver Project. The Company is encouraged by the significant participation in the Offering from existing shareholders and are pleased to welcome Yamana Gold as a new investor in Benchmark. The investment by Yamana is an important endorsement of the Lawyers Gold-Silver Project from a major precious metal producer and mine developer that has an established reputation and track record operating and developing world-class mines throughout the Americas in Tier 1 mining jurisdictions. We look forward to a positive working relationship with Yamana as we reach near-term milestones including an updated Mineral Resource Estimate and a Preliminary Economic Assessment (PEA)."
Executive Chairman Peter Marrone at Yamana Gold Inc. commented, "Yamana's investment in Benchmark Metals recognizes the significant technical strengths of management and equally significant technical merits of its project along with an immediate value proposition, with upcoming milestones that will further enhance that value and future potential."
The Offering was led by PI Financial Corp. and Sprott Capital Partners LP on behalf of a syndicate of underwriters that included Cormark Securities Inc. and Clarus Securities Inc. (the "Underwriters"). Pursuant to the Offering, the Company issued a total of 12,000,000 units (the "Units") at $1.00 per Unit, 1,920,000 flow-through units (the "FT Units") at $1.25 per FT Unit and 18,216,000 charity flow-through units (the "Charity FT Units") at $1.42 per Charity FT Unit, which includes the exercise of the overallotment option granted to the Underwriters.