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Benz Announces Drilling to Accelerate at Glenburgh Following A$30M Bought Deal
HIGHLIGHTS Firm commitments received to raise A$30 million via bought deal at market P...
About this update from Benz Mining Corp.
[{"type":"text","content":"Benz Announces Drilling to Accelerate at Glenburgh Following A$30M Bought DealHIGHLIGHTS Firm commitments received to raise A$30 million via bought deal at marketPlacement driven by demand from leading, high-quality long only offshore institutional investorsThe proceeds will enable Benz to accelerate drilling at Glenburgh following up the emerging bulk tonnage gold system at Icon and the exciting high grade gold trend at Zone 126 4 rigs have been locked in, with drilling expected to be ongoing and aggressively ramped upBenz is well-funded with a pro-forma cash position of over $40 million following completion of the Placement1Vancouver, British Columbia--(Newsfile Corp. - August 12, 2025) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (Benz or the Company) is pleased to announce that it has received firm commitments for a placement of 30,456,853 new fully paid CHESS Depositary Interests (CDIs) in the Company via a bought deal at an issue price of A$0.985 per CDI to raise A$30 million (before costs) (Placement).The Placement was driven by strong demand from leading, high-quality offshore institutional investors, and was also supported by its existing large institutional shareholders. Benz's share register is now well-positioned with a broad range of long-only institutional shareholders who have demonstrated their support for the Company's strategy of aggressive exploration to fast track resource growth. Benz Chair, Mr Evan Cranston, commented:\"This is a transformational capital raising for Benz which will position the Company to significantly increase its exploration activities at the Glenburgh Project, following recent drilling successes at the Icon Prospect and at Zone 126.\"To have had such strong cornerstone demand from two leading offshore institutional funds who share our excitement and vision with the new exploration strategy at Glenburgh is extremely pleasing. The new discoveries at the Icon Apollo trend deserve their own dedicated rigs to rapidly unlock the size and scale of the emerging bulk tonnage system. The remaining rigs will continue to target high grade ounces along the Zone 126 trend and scout out new and exciting untested priority targets along out 18km mineralised trend.\"The demand received from these institutions, together with our existing large institutional shareholders, is seen as a strong endorsement of our...