VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 8, 2017) - Benz Mining Corp. (the "Company") (NEX:BZ.H), has closed its previously announced non-brokered private placement (the "Private Placement"). The Company issued 4,166,664 units (each, a "Unit") at a price of $0.12 per Unit, for gross proceeds of up to $499,999.68. Each Unit consists of one common share in the capital of the Company (each a "Share") and one whole common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one Share (a "Warrant Share") at a price of $0.15 per Warrant Share for a period of 12 months following issuance.
The net proceeds from the Private Placement will be used to fund the identification and completion of a mineral property transaction and working capital.
All of the Shares issued pursuant to the Private Placement are subject to a four-month hold period expiring July 9, 2017.
After giving effect to the Private Placement, the Company will have an aggregate of 6,474,769 Shares issued and outstanding.
On behalf of the Board of Directors of Benz Mining Corp.
Miloje Vicentijevic, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.