Benjamin Hill Mining Corp. (CSE: BNN) (OTCBB: BNNHF) (“BHM” or the “Company”) is pleased to announce that it has completed its over-subscribed private placement previously announced December 17, 2021. The offering totals 6,034,989 units of the Company (the “Units”) at a price of $0.35 CAD per Unit (the “Offering”) for gross proceeds of $2,112,246.15. The securities issued in the Offering are subject to a hold period of four months and one day from the closing date, expiring May 28, 2022.
The Company paid cash finder’s fees equal to $55,020 CAD and issued 157,200 broker warrants, exercisable any time on or before January 27, 2024 to acquire the same number of shares at an exercise price of $0.50 CAD.
The Company will use the proceeds of the financing carry out work on the inaugural +8000m diamond drill program at the Sonora property and provide general working capital.
Benjamin Hill Mining Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico. The Company’s Sonora Gold project covers 6,000 ha of highly prospective mineral concessions in the Caborca gold belt of Sonora, Mexico. The company has been granted full access to the concessions by a single land owner. The property is in close proximity to Magna Gold Corp’s San Francisco mine.