NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES THUNDER BAY, Ontario, July 17, 2024 (GLOBE NEWSWIRE) -- Benton Resources Inc. ("Benton" or the "Company") (TSXV:BEX) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. ("Haywood"), as lead agent and sole bookrunner, on its own behalf and on behalf of a syndicate of agents (together with Haywood, the "Agents") pursuant to which the Agents have agreed to sell, on a "best efforts" private placement basis, up to 21,820,000 flow-through units (the "Flow-Through Units") of the Company at a price of C$0.165 per Flow-Through Unit (the "Issue Price"), for gross proceeds to the Company of up to C$3,600,300 (the "Offering"). Each Flow-Through Unit will consist of one common share in the capital of the Company (a "Flow-Through Share") will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") and one-half of one common share purchase warrant of the Corporation (each whole purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company (a "Warrant Share") at a price per Warrant Share of C$0.250 for a period of 24 months from the Closing Date (as hereinafter defined). The Company has granted the Agents an option to sell up to an additional 20% of the Offering in Flow-Through Units at the Issue Price (the "Agents' Option"), exercisable in whole or in part at any time up to 48 hours prior to the closing date. The gross proceeds from the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Units effective on or before December 31, 2024. The Offering is expected to close on or about August 8, 2024 and is subject to certain closing conditions including, but not limited to, the receipt ...