The Prospector News

Benz Announces Closing of A$150M Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Benz Announces Closing of A$150M Placement

 

 

 

 

 

Benz Mining Corp. (TSX-V: BZ) (ASX: BNZ) is pleased to advise that, further to its announcement dated August 23, 2026 in relation to the private placement for 40,431,267 new fully paid CHESS Depositary Interests in the Company at an issue price of A$3.71 (C$3.661) per CDI to raise A$150,000,000 (C$148,020,000) (before costs), it has successfully completed the Placement. Each CDI represents one underlying common share in the Company on a one for one basis.

 

Proceeds from the Placement will be applied as follows:

  • To accelerate Benz’s planned 450,000m drill program at Glenburgh through the addition of six drill rigs, increasing the on-site fleet to 14 rigs operating across 20 shifts. At 450,000m, the campaign is expected to rank among the largest gold exploration drilling programs underway in Australia and, by scale, among the largest globally. The expanded fleet will focus on rapid infill drilling to support preparation of Benz’s maiden Mineral Resource Estimate, targeted for H1 2027, while continuing resource growth and extension drilling across the broader Glenburgh system;
  • To advance geological modelling, assay analysis, interpretation and technical studies in parallel with the accelerated drilling program, enabling rapid conversion of drilling results into resource definition and supporting the commencement of feasibility studies into FY2027;
  • To undertake field activities and permitting, including drill access preparation, heritage clearances, environmental approvals and associated field costs across the Company’s project portfolio; and
  • For working capital, including general corporate and administrative costs to support ongoing operations and exploration activities.

 

Pursuant to the terms of a capital raising engagement letter dated as of August 22, 2026, between Canaccord Genuity (Australia) Limited, Euroz Hartleys Limited and the Company, Canaccord and Euroz acted as Joint Lead Managers to the Placement and provided certain capital raising services to the Company in respect thereof. In accordance with the terms of the Capital Raising Engagement, the Joint Lead Managers were paid a combined commission equal to 4% of the gross proceeds raised under the Placement, in the aggregate amount of A$6,000,000 (C$5,920,800) (plus GST) (Capital Raising Fee), of which they will pay a sum equal to A$300,000 (C$296,040) to Shaw and Partners for services rendered to the Company for the Placement.

 

The Placement remains subject to the final approval of the TSX Venture Exchange. The CDIs and underlying common shares issued in connection with the Placement are subject to a statutory hold period in Canada of four months and one day from the date of issuance.

 

Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of Canada’s exchange rate posted on August 21, 2026 of A$1 = C$0.9868.

 

About Benz Mining Corp.

 

Benz Mining Corp. is a pure-play gold exploration company dual-listed on the TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold Project in Quebec, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western Australia.

 

Benz’s key point of difference lies in its team’s deep geological expertise and the use of advanced geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to rapidly grow its global resource base and solidify its position as a leading gold explorer across two of the world’s most prolific gold regions.

 

 

Posted August 31, 2026

Share this news article

MORE or "UNCATEGORIZED"


Cassiar Gold Corp. Announces Exploration Agreement with Dease River First Nation

Cassiar Gold Corp. (TSX-V: GLDC) (OTCQX: CGLCF) is pleased to announce the signing of an Exploration... READ MORE

September 22, 2026

Elemental Royalty Announces US$290 Million Acquisition of Royalty and Streaming Portfolio, Strategic Divestment of Generation Business and Management Succession

Elemental Royalty Corporation (NASDAQ: ELE) (TSX: ELE) is pleased to announce that it has entered i... READ MORE

September 22, 2026

Cambria Gold Mines Announces 166.2 g/t Au and 3,383 g/t Ag over 3.1 Meters at Premier and Expanded Drilling Program

Cambria Gold Mines Inc.(TSX-V: CAMB) (OTCQX: CAMVF) is pleased to announce new assay results from th... READ MORE

September 22, 2026

Meridian Mining's Definitive Feasibility Study for Cabaçal Delivers After-Tax NPV5 of USD 2.09 Billion, 108% IRR, and 0.9 Year Payback

Meridian Mining plc (LSE: MNO) (TSX: MNO) (FSE: N2E0) (Tradegate: N2E0) (OTCQX: MRRDF) is ple... READ MORE

September 22, 2026

Goliath Successfully Completes 48,443 Meters Of Drilling in 97 Drill Holes in 94 Days, With A 100% Hit Rate And Expands Footprint Of High-Grade Surebet Gold Discovery To 2.01 Km2 That Remains Open, Golddigger Property, Golden Triangle, B.C.

Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is pleased to announce that the 2... READ MORE

September 22, 2026

Copyright 2026 The Prospector News