Thunder Bay, Ontario--(Newsfile Corp. - May 11, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has been advised by Clean Air Metals Inc. ("Clean Air") (formerly Regency Gold Corp.) that they have received conditional received conditional approval from the TSX Venture Exchange with respect to its previously announced transaction in accordance with Policy 5.2 of the TSXV. In connection with the transaction, Clean Air filed a filing statement dated May 5, 2020, in support of its application to the TSXV to become a mining issuer (as that term is defined in the policies of the TSXV).
Pursuant to the terms of the definitive option agreement dated Jan. 6, 2020, as amended on Jan. 27, 2020, entered into between Clean Air and Benton, Clean Air will proceed with the completion of the acquisition of an option to acquire a 100-per-cent right, title and interest in and to the Escape Lake property.
Pursuant to the terms of a definitive share purchase agreement dated Jan. 6, 2020, entered into between Clean Air and Magma Metals Pty. Ltd., Clean Air will proceed with the completion of the acquisition of 100 per cent of Panoramic Resources Inc.'s indirect subsidiary, Panoramic PGMs (Canada) Ltd., which owns the Thunder Bay North project (TBN project).
Clean Air obtained shareholder approval from a majority of the shareholders in respect of the transaction by way of written consent in accordance with Section 4.3 of Policy 5.2 of the TSX-V corporate finance manual.
In connection with the transaction and pursuant to TSX-V requirements, Clean Air has filed the filing statement on SEDAR under the company's issuer profile. Readers are strongly encouraged to review the filing statement for full details on the transaction.
The completion of the transaction remains subject to final approval by the TSX-V and fulfilment of the TSX-V requirements in order to obtain such approval, including among other things, submission and acceptance of all documents requested by the TSX-V in its conditional approval letter and payment of all outstanding fees to the TSX-V. Until final approval of the TSX-V is obtained and a final exchange bulletin is issued, trading in the common shares of Clean Air will remain halted. Upon resumption of trading, the common shares of Clean Air will trade under the symbol AIR and Clean Air will be listed on the TSX-V as a Tier 2 mining issuer.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Many projects have an up-to-date 43-101 Report available.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
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.
For further information, please contact:
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