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Benton Advised that Clean Air Metals has Received Conditional Approval of Transactions and Filing Statement from TSX Venture Exchange
Thunder Bay, Ontario--(Newsfile Corp. - May 11, 2020) - Benton Resources Inc. (TSXV: BEX) ...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Advised that Clean Air Metals has Received Conditional Approval of Transactions and Filing Statement from TSX Venture ExchangeThunder Bay, Ontario--(Newsfile Corp. - May 11, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has been advised by Clean Air Metals Inc. (\"Clean Air\") (formerly Regency Gold Corp.) that they have received conditional received conditional approval from the TSX Venture Exchange with respect to its previously announced transaction in accordance with Policy 5.2 of the TSXV. In connection with the transaction, Clean Air filed a filing statement dated May 5, 2020, in support of its application to the TSXV to become a mining issuer (as that term is defined in the policies of the TSXV).The transactionPursuant to the terms of the definitive option agreement dated Jan. 6, 2020, as amended on Jan. 27, 2020, entered into between Clean Air and Benton, Clean Air will proceed with the completion of the acquisition of an option to acquire a 100-per-cent right, title and interest in and to the Escape Lake property.Pursuant to the terms of a definitive share purchase agreement dated Jan. 6, 2020, entered into between Clean Air and Magma Metals Pty. Ltd., Clean Air will proceed with the completion of the acquisition of 100 per cent of Panoramic Resources Inc.'s indirect subsidiary, Panoramic PGMs (Canada) Ltd., which owns the Thunder Bay North project (TBN project).Shareholder approvalClean Air obtained shareholder approval from a majority of the shareholders in respect of the transaction by way of written consent in accordance with Section 4.3 of Policy 5.2 of the TSX-V corporate finance manual.Filing statementIn connection with the transaction and pursuant to TSX-V requirements, Clean Air has filed the filing statement on SEDAR under the company's issuer profile. Readers are strongly encouraged to review the filing statement for full details on the transaction.The completion of the transaction remains subject to final approval by the TSX-V and fulfilment of the TSX-V requirements in order to obtain such approval, including among other things, submission and acceptance of all documents requested by the TSX-V in its conditional approval letter and payment of all outstanding fees to the TSX-V. Until final approval of the TSX-V is obtained and a final exchang...