Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) has closed a bought deal financing for aggregate gross proceeds of $40,266,720 and attracted some big name investors.
CEO, John Williamson, said that notably 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.
“Following the Offering we will have more than $50 million available to explore and advance the Lawyers Gold-Silver Project,” Mr Williamson said.
“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., said the company’s investment in Benchmark Metals recognises 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 net proceeds raised from the Units will be used to fund ongoing project development expenditures at the company’s Lawyers Gold-Silver Project, and for working capital and general corporate purposes.
For further information please visit: https://www.benchmarkmetals.com/
