THUNDER BAY, ON, March 27, 2013 /CNW/ - Benton Capital Corp. (TSXV: BTC) ("Benton") would like to update its shareholders on the
recently announced unsolicited offer by Gold Royalties Corporation
(TSXV: GRO) ("Gold Royalties") to acquire 100% of the outstanding
shares of Benton for an all-share consideration of 0.133 shares of Gold
Royalties for each share of Benton Capital Corp.
Benton's Board of Directors (the "Board") has yet to receive a formal
written offer from Gold Royalties and therefore may only comment on the
contents of the Gold Royalties press release dated March 21, 2013.
Benton's Board has unanimously rejected the intended offer and
recommends that Benton shareholders take no action. Further, the Board
views this intended offer as opportunistic in difficult markets and is
nothing more than an attempt by Gold Royalties to finance their company
by taking control of Benton's $1.1 million in cash and to liquidate in
some fashion, as indicated in their press release, Benton's approximate
42% interest in Coro Mining Corp. ("Coro") for cash for the purposes of
funding operations and purchasing royalty interests. Benton has and
will continue to be a loyal shareholder of Coro and continues to feel
that its shareholders will benefit from Benton's continued ownership of
Coro as the Coro team continues to realize its strategy of becoming a
developer of its Chilean and Argentinean assets.
Benton would also like to assure shareholders that it has and will
continue to take all measures necessary to ensure their interests are
protected and will provide further updates as warranted.
About Benton Capital Corp.:
Benton Capital Corp. is a Canadian based junior which holds the
Goodchild Copper-Nickel-PGM project located 5km NE of Stillwater
Mining's Marathon Copper-PGM deposit currently being permitted for
production. Benton Capital Corp. also holds approximately 57.87 million
shares (approximately 41.84%) of Coro Mining Corp. (TSX: COP) - a Vancouver based copper exploration company with projects
located in South America.
On behalf of the Board of Directors of Benton Capital Corp.,
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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
SOURCE: Benton Capital Corp.
For further information:
For further information contact Stephen Stares @:
3250 Highway 130,
Rosslyn, ON P7K 0B1