{"id":1136770,"date":"2019-09-05T17:34:18","date_gmt":"2019-09-05T22:34:18","guid":{"rendered":"https:\/\/www.mining.com\/?p=1001265"},"modified":"2019-09-05T17:34:18","modified_gmt":"2019-09-05T22:34:18","slug":"benchmark-metals-gets-3m-injection-from-eric-sprott","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1136770","title":{"rendered":"Benchmark Metals gets $3m  injection from Eric Sprott"},"content":{"rendered":"<p>Benchmark Metals<strong>\u00a0<\/strong>(TSXV: BNCH) announced Thursday that it has entered into an agreement with Sprott Capital Partners to act as lead agent on its own behalf and, if applicable, on behalf of a syndicate of agents in connection with a private placement to raise up to C$7.5 million. <\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The offering will consist of a combination of up to 18.3 million units at C$0.30 per unit, to raise gross proceeds of up to $5.5 million, and up to 5 million flow-through shares at C$0.40 to raise an additional $2 million.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Sprott will about 14% of Benchmark&#8217;s issued and outstanding common shares <\/p>\n<\/blockquote>\n<\/figure>\n<p>&nbsp;Each unit<br \/>\nwill consist of one common share of the company and one-half of a common share<br \/>\npurchase warrant. Each whole warrant will be exercisable to acquire one additional<br \/>\ncommon share at an exercise price of C$0.40 per Common Share for a period of<br \/>\ntwo years from the date of closing of the offering.<\/p>\n<p>Eric Sprott will purchase 13.3 million units of the offering, which will result in Sprott holding about 14% of Benchmark&#8217;s issued and outstanding common shares<strong>.<\/strong><\/p>\n<p>The Canadian billionaire investor \u2013 also a pioneer in the<br \/>\ngold-backed ETF industry \u2013&nbsp;<a href=\"https:\/\/www.mining.com\/gold-silver-investing-legend-eric-sprott-on-junior-mining-spree\/\"  rel=\"noreferrer noopener\">has splashed over C$145 million<\/a>&nbsp;on gold,<br \/>\nsilver, and nickel explorers since May, mostly&nbsp;on Canada-domiciled<br \/>\ncompanies.<strong><\/strong><\/p>\n<p>Upon closing the maximum offering, if Sprott were<br \/>\nto exercise all of his warrants, he would hold a 19.98% ownership position in<br \/>\nBenchmark on a partially diluted basis, the company said in a media statement. <\/p>\n<p>The net proceeds from the unit offering will be used to finance further exploration expenditures on the Lawyers Property gold property in British Columbia, part of the prolific &#8216;Golden Horseshoe&#8217; and to provide the company with working capital. \u00a0<\/p>\n<p>At market close Thursday, Benchmark Metals\u2019 was up 1.2%.<br \/>\nThe company has a C$20.8 million market capitalization. <\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/benchmark-metals-gets-3m-injection-from-eric-sprott\/\">Benchmark Metals gets $3m  injection from Eric Sprott<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian billionaire investor has splashed over C$145 million on gold, silver, and nickel explorers since May. <\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/benchmark-metals-gets-3m-injection-from-eric-sprott\/\">Benchmark Metals gets $3m  injection from Eric Sprott<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369,4],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1136770"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1136770"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1136770\/revisions"}],"predecessor-version":[{"id":1136921,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1136770\/revisions\/1136921"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1136770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1136770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1136770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}