Benton Participates in Coro Mining Private Placement
December 23 2013 - 9:00AM
Marketwired
Benton Participates in Coro Mining Private Placement
THUNDER BAY, ONTARIO--(Marketwired - Dec 23, 2013) - Benton
Capital Corp. (TSX-VENTURE:BTC) ("Benton") is pleased to inform its
shareholders that the Company has subscribed to 3,133,246 units of
Coro Mining Corp. (TSX:COP) ("Coro") for a price of $0.10 per unit
(See Coro PR dated December 12, 2013) for a gross payment of
$313,325. Each unit will comprise one common share of Coro and
one-half of a common share purchase warrant. Each warrant will
entitle the Company to acquire an additional common share of Coro
at an exercise price of $0.15 for a period of three years. The
warrants will be subject to a forced exercise provision after one
year in the event the volume-weighted average trading price of
Coro's common shares on the Toronto Stock Exchange is equal to or
above $0.30 for 20 consecutive trading days. Benton now holds 61
million shares of Coro or approximately 41% of Coro's common shares
as well as 1,566,623 share purchase warrants. In addition, Benton
retains its right to maintain its current fully diluted interest in
the common shares of Coro Mining moving forward.
Stephen Stares, President and CEO of Benton stated, "We feel
that the Coro team has done an excellent job in navigating though
these challenging times in our sector and are pleased to provide
our support in this very important private placement. These funds
will assist Coro in completing diamond drilling on the very
prospective El Desesperado copper project in mining-friendly Chile
and we await the results of that program with much excitement."
About Benton Capital Corp.:
Benton Capital Corp. is a Canadian based junior which holds the
Goodchild Copper-Nickel-PGM project located 5km NE of Stillwater
Mining's Marathon Copper-PGM deposit currently being permitted for
production. Benton Capital Corp. also holds 61 million shares
(approximately 41%) and 1,566,623 share purchase warrants of Coro
Mining Corp. (www.coromining.com) (TSX:COP) - a Vancouver based
copper exploration company with projects located in South
America.
On behalf of the Board of Directors of Benton Capital Corp.,
Stephen Stares, President
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."
Benton Capital Corp.Stephen
StaresPresident807-475-7474807-475-7200www.bentoncapital.ca