Toronto, Ontario--(Newsfile Corp. - May 28, 2025) - Eric Sprott announces that, on May 28, 2025, 5,000,000 common share purchase warrants (Warrants) of Benton Resources Inc., held by him, expired unexercised representing a decrease in holdings of approximately 5.0% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to such expiry, Mr. Sprott beneficially owned and controlled 28,750,000 Shares and 8,125,000 Warrants representing approximately 14.0% of the outstanding Shares on a non-diluted basis and approximately 17.3% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the expiry of the Warrants, Mr. Sprott now beneficially owns 28,750,000 Shares and 3,125,000 Warrants representing approximately 14.0% of the outstanding Shares on a non-diluted basis and approximately 15.3% on a partially diluted basis assuming the exercise of such Warrants. The Warrant expiry combined with previous new share issuances by Benton Resources Inc., resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Benton Resources Inc. address is 176-1100 Memorial Avenue, Thunder Bay, Ontario, P7B 4A3. A copy of the early warning report with respect to the foregoing will appear on Benton's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (Eric Sprott, 1106-7 King Street East, Toronto, Ontario M5C 3C5).
