SOURCE:
Benton Resources Corp.
2008-08-25 09:38:00
VANCOUVER, BC–(EMWNews – August 25, 2008) – Benton Resources Corp. (TSX-V: BTC)
(
to make a normal course issuer bid (the “Bid”), to purchase, through the
facilities of the TSX Venture Exchange (the “Exchange”), certain of its
outstanding common shares.
The number of common shares intended to be purchased through the facilities
of the Exchange during the period of the Bid from August 26, 2008 to August
26, 2009 will not exceed 3,000,000 common shares, or approximately 4.3% of
the total of 69,444,281 common shares outstanding. The actual number of
shares that may be purchased and the timing of any such purchases will be
determined by Benton.
Purchases pursuant to the Bid will be conducted through RBC Dominion
Securities Inc. as to the first one million shares and through Thomas
Weisel Partners Canada Inc. as to the remaining two million shares and the
price that Benton will pay for the shares will be the market price at the
time of the purchase. All shares purchased under the Bid will be
cancelled.
The Board of Benton believes that recent market prices of the Company’s
shares do not properly reflect the underlying value of the Company. With
the Company’s exploration results to date, the various joint ventures that
the Company has entered into and a treasury of approximately $20 million
the Board believes that the Bid is in the best interest of the
shareholders. The Bid will provide some liquidity for those shareholders
who wish to dispose of their shares and enhance the potential future value
of the shares which remain outstanding.
The proposed Bid remains subject to the prior acceptance of the Exchange.
Following acceptance by the Exchange, shareholders may obtain a copy of the
completed Bid notice, without charge, by contacting the Company.
On behalf of the Board of Directors of Benton Resources Corp. "Stephen Stares" Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform act of 1995.
Investors are cautioned that such forward-looking statements involve risks
and uncertainties.
For further information contact Stephen Stares @ 3290 Willard Ave Thunder Bay, Ont. P7E 6J7 Phone (807)475-7474 Fax (807)475-7200 www.bentonresources.com |
|
Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89
Get Unlimited Organic Website Traffic to your Website
TheNFG.com now offers Organic Lead Generation & Traffic Solutions