Benton Capital Terminates Letter of Intent to Acquire Gross Overriding Royalty From Great Lakes Graphite
02.10.2015 | Marketwire
THUNDER BAY, Oct 2, 2015 - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") announces that it has elected to terminate its previously announced Letter of Intent ("LOI") with Great Lakes Graphite Inc. ("GLK") to acquire a 10% Gross Overriding Royalty on GLK's Graphite Micronization facility located in Matheson, Ontario (see Benton PR dated July 30, 2015). The Board and Management of Benton would like to wish the GLK team much success at Matheson moving forward.The Company remains committed to evaluating strategic opportunities that will bring value to its shareholders. With its strong treasury and minimal burn rate, the Company feels that it is well positioned to secure prospective opportunities for its shareholders and will continue to update shareholders on any developments.
About Benton Capital Corp.:
The Company has over $1 million in cash, holds 1,566,623 warrants of Coro Mining Corp. exercisable at $0.15 until December 20, 2016. In addition, Benton holds no debt and has a very low burn rate. Benton also holds the Goodchild-PGM-Copper-Nickel project located less than 4km from Stillwater's Marathon Copper-PGM deposit which is currently under development near Marathon Ontario. The Company's strategy is to seek out and acquire attractive royalty opportunities that offer shareholder value now and into the future.
On behalf of the Board of Directors of Benton Capital Corp.
Stephen Stares
President and 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.
Contact
Benton Capital Corp.
Stephen Stares
(807) 475-7474
(807) 475-7200
www.bentoncapital.ca