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Benz Announces Transformational A$75M Bought Deal
HIGHLIGHTS Firm commitments received to raise A$75 million via bought deal Placement d...
About this update from Benz Mining Corp.
[{"type":"text","content":"Benz Announces Transformational A$75M Bought DealHIGHLIGHTS Firm commitments received to raise A$75 million via bought dealPlacement driven by demand from leading, high-quality offshore institutional investorsThe Placement will enable Benz to significantly increase activities at the Glenburgh and Mt Egerton Gold Projects, including resource growth, infill drilling and extension of known mineralisation at the Icon, Tuxedo and broader Glenburgh systemBenz is well-funded with a pro-forma cash position of ~A$94 million following completion of the Placement1 Vancouver, British Columbia--(Newsfile Corp. - January 28, 2026) - 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 32,327,587 new fully paid CHESS Depositary Interests (CDIs) in the Company via a bought deal at an issue price of A$2.32 per CDI (Issue Price) to raise A$75 million (before costs) (Placement).The Placement was driven by strong demand from two leading, high-quality offshore institutional investors, including a leading global fund manager who cornerstoned the Placement, and was also supported by its existing substantial institutional shareholders. Benz's share register remains well-positioned with a broad range of long-only institutional shareholders who have demonstrated their support for the Company's strategy of aggressive exploration. Benz Chair, Mr Evan Cranston, commented:\"This bought capital raising is a transformational step for Benz, positioning the company to significantly increase activities at the Glenburgh project, following recent drilling success.\"The strong cornerstone support from global institutional funds, together with our existing large institutional shareholders, is a strong endorsement of our recent discoveries and the exploration potential that remains within our belt-scale tenure. Glenburgh is rapidly shaping up as one of the most compelling emerging gold stories on the ASX.\"With a strengthened pro-forma balance sheet of ~A$94m1 in cash, Benz is well funded to drive a step change in the rate of exploration activities at Glenburgh. As we move into the next exciting chapter for the company, I'd like to take this opportunity to thank our existing shareholders and welcome our new shareholders to the register.\"Use of Funds Proceeds from the placement wi...