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