Edmonton – October 15, 2018 – Benchmark Metals Inc. (formerly Crystal Exploration Inc.) (the “Company” or “Benchmark”) (TSX-V: BNCH) (OTCQB: CYRTF) (GER: A2JM2X) (FKT: A7CA) – Further to the Company’s announcement on September 26, 2018, Benchmark is pleased to announce that its proposed private placement was increased from 4.0 million to 4,090,000 flow-through shares at an offering price of $0.25 per share to raise gross proceeds of up to $1,022,500 (the “Offering”), and the Offering has been closed in two tranches.
The net proceeds of the Offering will be used to incur qualifying Canadian exploration expenses (the “Qualifying Expenses”) on the Lawyers Property, British Columbia, and the Company will renounce the Qualifying Expenses to the subscribers. Each subscriber will be entitled to their pro rata share of the flow-through expenses renounced, a 15% federal tax credit and, if a BC resident, a 20% BC mining expenditures tax credit, less any government assistance.
The securities for the Offering will bear legends restricting resale until either February 3, 2019 (for 2,920,000 shares) or February 11, 2019 (for 1,170,000 shares).
About Benchmark Metals Inc.
Benchmark is a Canadian mineral exploration company with its common shares listed for trading on the TSX Venture Exchange in Canada, the OTCQB Venture Market in the United States and the German Stock Exchanges in Europe. Benchmark is managed by proven resource sector professionals, who have a track record of advancing exploration projects from grassroots scenarios through to production.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
For further information, please contact:
Jim Greig, President
Tel: (604) 260-6977
NEITHER 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.
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.