Benton Capital Corp.

Benton Capital Corp.

January 15, 2015 10:14 ET

Benton Capital Terminates Agreement to Acquire Folium Life Science Inc. and Provides Update

THUNDER BAY, ONTARIO--(Marketwired - Jan. 15, 2015) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") would like to provide an update on its previously announced intent to acquire a 100% interest in Folium Life Science Inc. ("Folium"), a private company, with its head office located in Abbotsford, British Columbia. As stated in the Company's April 24, 2014 news release, the closing of the transaction is subject to obtaining all applicable regulatory and shareholder approvals in addition to Folium receiving its Ready-to-Build letter from Health Canada to become a Licensed Producer under the new Marihuana for Medical Purposes Regulations ("MMPR").

Folium has still not received its security clearances from Health Canada as of the closing date of the initial agreement with Benton and the timeframes for receipt of such clearances remain uncertain. Benton and Folium were unable to arrive at amenable terms in order to negotiate an extension of the acquisition agreement and as a result the agreement was terminated. The Company wishes Folium much success in the future.

Benton remains committed to delivering new value to shareholders of the Company and is currently evaluating opportunities both inside and outside of the mining space and will update shareholders should something materialize. The Company remains well funded with a minimal burn rate and as such management feels Benton is well positioned to capitalize on strategic opportunities that will benefit its shareholders.

About Benton Capital Corp.:

The Company has over $1 million in cash, holds 1,566,623 warrants of Coro 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.

On behalf of the Board of Directors of Benton Capital Corp,

Stephen Stares, President and CEO


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 Information

  • Benton Capital Corp.
    Stephen Stares
    3250 Highway 130, Rosslyn, ON P7K 0B1
    (807)475-7200 (FAX)