- Benton Resources (TSXV:BEX) shareholders have approved the spin-out of 2 million of the company’s 4 million shares of Vinland Lithium, which are expected to be distributed by April 30
- Vinland’s Killick project is the site of Newfoundland’s first spodumene-bearing pegmatite occurrence
- Benton Resources is a mineral exploration company holding a diversified project portfolio, as well as large equity positions in miners advancing high-quality assets
- Benton Resources stock has given back 50 per cent year-over-year and 36.36 per cent since 2020
Benton Resources (TSXV:BEX) shareholders have approved the spin-out of 2 million of the company’s 4 million shares of Vinland Lithium, which are expected to be distributed by April 30.
Vinland’s Killick lithium project
Vinland’s flagship Killick lithium project in Newfoundland – owned by Benton (40 per cent), Sokoman Minerals (40 per cent) and Piedmont Lithium (20 per cent) – offers exposure to strong exploration upside on a new lithium belt supported by Piedmont’s technical and geological experience as one of North America’s top lithium companies.
The property spans 950 square kilometers, including 60 kilometers of strike length, backed by initial prospecting by Benton and Sokoman in 2021 uncovering Newfoundland’s first spodumene-bearing pegmatite occurrence.
Piedmont has funded all of Killick’s exploration and development costs and holds an option to earn 62.5 per cent of the project by spending C$12 million on further development, with Benton and Sokoman set to retain a 2 per cent net smelter return royalty.
Spin-out details
Investors will receive 50 Vinland shares per 5,000 Benton shares held, according to Monday’s news release, though accounts with less than 5,000 shares will be excluded from the spin-out because of prohibitive administration and compliance costs.
Sokoman investors have approved a similar 2 million share spin-out, as detailed in February 2025, while the TSXV has greenlit the listing of about 10 million Vinland shares.
About Benton Resources
Benton Resources is a mineral exploration company holding a diversified project portfolio, as well as large equity positions in miners advancing high-quality assets. The company’s flagship Great Burnt copper and gold project in Newfoundland is estimated to house 667,000 tons at 3.21 per cent copper indicated and 482,000 tons at 2.35 per cent copper inferred, with high-grade drilling and numerous untested geophysical targets suggestive of discoveries to come.
Benton Resources stock (TSXV:BEX) last traded at C$0.07. The stock has given back 50 per cent year-over-year and 36.36 per cent since 2020.
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