Benz Completes Private Placement of $230,000
29 Juillet 2014 - 12:27AM
Marketwired Canada
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Benz Capital Corp. (the "Corporation" or "Benz") (TSX VENTURE:BZ) is pleased to
announce that it has closed its previously announced private placement for gross
proceeds of $230,619 (the "Private Placement").
The Private Placement was comprised of units at $0.47 per unit (each, a "Unit").
A total of 490,679 Units were issued pursuant to the Private Placement. Each
Unit consists of one common share (each, a "Common Share") and one Common Share
purchase warrant (each, a "Warrant") which is exercisable to acquire one
additional Common Share at a price of $0.55 until July 28, 2019.
Subject to the approval of the TSX Venture Exchange (the "Exchange"), the
proceeds of the Private Placement will be used for funding the closing of the
Corporation's option agreement with Tusk Exploration Ltd. dated May 5, 2014 (the
"Option Agreement") and the first payment to Tusk thereunder, as well as for
general corporate purposes.
The Company is subject to a trading halt which remains in effect until the
Exchange provides their approval of the Option Agreement.
About the Corporation
Benz is a junior mining company focused on the exploration and development of
mineral properties located in the Americas. Its strategic vision is to become a
profitable mining producer providing value for all stakeholders. For more
information, please refer to the Company's website at www.benzcapital.com.
This news release contains statements about the Corporation's expectations
regarding future events related to receipt of TSX Venture Exchange final
acceptance for the Option Agreement that are forward-looking in nature and, as a
result, are subject to certain risks and uncertainties. Although the Corporation
believes that the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them as actual results may
differ materially from the forward-looking statements and there can be no
assurance that such expectations will prove to be correct. Factors that could
cause the actual results to differ materially from those in forward-looking
statements include failure to complete the Option Agreement for any reason
whatsoever, including that the shareholders and/or regulators may not approve
the Option Agreement. The forward-looking statements contained in this news
release are made as of the date hereof, and the Corporation undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. The forward-looking statements
contained in this news release are expressly qualified by this cautionary
statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Benz Capital Corp.
Miloje Vicentijevic
President and Chief Executive Officer
604.689.9266
604.689.9232 (FAX)
www.benzcapital.com
Benz Mining (TSXV:BZ)
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