Thunder Bay, Ontario--(Newsfile Corp. - April 8, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has been informed that further to its news release dated March 31, 2020, Regency Gold Corp. has now completed its company name change to Clean Air Metals Inc. ("Clean Air") pursuant to its special meeting of shareholders held on March 31, 2020 and in accordance with the Canada Business Corporations Act. In addition, the listing committee of the TSX Venture Exchange has conditionally accepted Clean Air Metals' previously announced proposed reverse takeover transaction, subject to certain conditions precedent. The transaction envisions completion of the definitive option agreement, pursuant to which Clean Air Metals will acquire from Benton the option to acquire a 100% interest in each of the Escape Lake property and the TBN property for approximately 24.6 million Clean Air Metals common shares as previously described in the Company's news release dated January 10, 2020.
Abraham Drost, Clean Air Metals' CEO, commented, "Shareholder approval for the change of the company's name to Clean Air Metals Inc. is a watershed moment for the company. The company's name change, combined with the recent conditional approval of the transaction by the listing committee of the TSX-V, creates a clear path to resumption of trading under the symbol AIR: TSX-V."
Stephen Stares, President and CEO of Benton, added, "We are pleased to see the team at Clean Air Metals achieve these corporate and regulatory milestones and look forward to final acceptance from the TSX Venture Exchange and the resumption of trading. We feel the significant investment Benton will hold in Clean Air Metals will potentially offer Benton shareholders great value as their team advances these exciting PGE projects. PGE prices remain strong and Clean Air Metals has composed a dynamic team to take advantage of this."
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.
For further information, please contact:
Stephen Stares, President & CEO
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.
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