Benz Capital Corp.
TSX VENTURE : BZ

July 28, 2014 18:27 ET

Benz Completes Private Placement of $230,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Benz Capital Corp. (the "Corporation" or "Benz") (TSX VENTURE:BZ) is pleased to announce that it has closed its previously announced private placement for gross proceeds of $230,619 (the "Private Placement").

The Private Placement was comprised of units at $0.47 per unit (each, a "Unit").

A total of 490,679 Units were issued pursuant to the Private Placement. Each Unit consists of one common share (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant") which is exercisable to acquire one additional Common Share at a price of $0.55 until July 28, 2019.

Subject to the approval of the TSX Venture Exchange (the "Exchange"), the proceeds of the Private Placement will be used for funding the closing of the Corporation's option agreement with Tusk Exploration Ltd. dated May 5, 2014 (the "Option Agreement") and the first payment to Tusk thereunder, as well as for general corporate purposes.

The Company is subject to a trading halt which remains in effect until the Exchange provides their approval of the Option Agreement.

About the Corporation

Benz is a junior mining company focused on the exploration and development of mineral properties located in the Americas. Its strategic vision is to become a profitable mining producer providing value for all stakeholders. For more information, please refer to the Company's website at www.benzcapital.com.

This news release contains statements about the Corporation's expectations regarding future events related to receipt of TSX Venture Exchange final acceptance for the Option Agreement that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Corporation believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements and there can be no assurance that such expectations will prove to be correct. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to complete the Option Agreement for any reason whatsoever, including that the shareholders and/or regulators may not approve the Option Agreement. The forward-looking statements contained in this news release are made as of the date hereof, and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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 adequacy or accuracy of this release.

Contact Information

  • Benz Capital Corp.
    Miloje Vicentijevic
    President and Chief Executive Officer
    604.689.9266
    604.689.9232 (FAX)
    www.benzcapital.com