TSX-V: BTC
THUNDER BAY,
ON, March 27, 2013 /CNW/ -
Benton Capital Corp. (TSXV: BTC) ("Benton") would like to
update its shareholders on the recently announced unsolicited offer
by Gold Royalties Corporation (TSXV: GRO) ("Gold Royalties") to
acquire 100% of the outstanding shares of Benton for an all-share
consideration of 0.133 shares of Gold Royalties for each share of
Benton Capital Corp.
Benton's Board of Directors (the "Board") has
yet to receive a formal written offer from Gold Royalties and
therefore may only comment on the contents of the Gold Royalties
press release dated March 21,
2013. Benton's Board has unanimously rejected the
intended offer and recommends that Benton shareholders take no
action. Further, the Board views this intended offer as
opportunistic in difficult markets and is nothing more than an
attempt by Gold Royalties to finance their company by taking
control of Benton's $1.1 million in cash and to liquidate in some
fashion, as indicated in their press release, Benton's approximate 42% interest in Coro
Mining Corp. ("Coro") for cash for the purposes of funding
operations and purchasing royalty interests. Benton has and will continue to be a loyal
shareholder of Coro and continues to feel that its shareholders
will benefit from Benton's
continued ownership of Coro as the Coro team continues to realize
its strategy of becoming a developer of its Chilean and Argentinean
assets.
Benton would
also like to assure shareholders that it has and will continue to
take all measures necessary to ensure their interests are protected
and will provide further updates as warranted.
About Benton Capital Corp.:
Benton Capital Corp. is a Canadian based junior
which holds the Goodchild Copper-Nickel-PGM project located 5km NE
of Stillwater Mining's Marathon
Copper-PGM deposit currently being permitted for production. Benton
Capital Corp. also holds approximately 57.87 million shares
(approximately 41.84%) of Coro Mining Corp. (TSX: COP) - a
Vancouver based copper exploration
company with projects located in South
America.
On behalf of the Board of Directors of Benton
Capital Corp.,
"Stephen Stares"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND
DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
The information contained herein contains
"forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking statements relate to
information that is based on assumptions of management, forecasts
of future results, and estimates of amounts not yet determinable.
Any statements that express predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance are not statements of historical fact and may be
"forward-looking statements."
Forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events
or results to differ from those reflected in the forward-looking
statements, including, without limitation: risks related to failure
to obtain adequate financing on a timely basis and on acceptable
terms; risks related to the outcome of legal proceedings; political
and regulatory risks associated with mining and exploration; risks
related to the maintenance of stock exchange listings; risks
related to environmental regulation and liability; the potential
for delays in exploration or development activities or the
completion of feasibility studies; the uncertainty of
profitability; risks and uncertainties relating to the
interpretation of drill results, the geology, grade and continuity
of mineral deposits; risks related to the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses; results of prefeasibility and feasibility
studies, and the possibility that future exploration, development
or mining results will not be consistent with the Company's
expectations; risks related to gold price and other commodity price
fluctuations; and other risks and uncertainties related to the
Company's prospects, properties and business detailed elsewhere in
the Company's disclosure record. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in forward-looking statements. Investors are cautioned
against attributing undue certainty to forward-looking
statements. These forward looking statements are made as of
the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances.
Actual events or results could differ materially from the Company's
expectations or projections
SOURCE Benton Capital Corp.