Benton and Sokoman Enter into Mutual Participation Agreements Governing Cost Reimbursement Under Their Strategic Exploration Alliance

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[{"type":"text","content":"Benton and Sokoman Enter into Mutual Participation Agreements Governing Cost Reimbursement Under Their Strategic Exploration AllianceThunder Bay, Ontario--(Newsfile Corp. - October 15, 2021) - Benton Resources Inc. (TSXV: BEX) (\"Benton\") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (\"Sokoman\") (jointly, \"the Companies\" or singularly a \"Joint Venture Party\") are pleased to announce that they have entered into mutual participation agreements (the \"Participation Agreements\") that govern cost reimbursement between the Companies relating to certain option agreements entered into by each of Benton and Sokoman on behalf of their strategic exploration alliance announced on May 20, 2021. Pursuant to the strategic alliance the Companies agreed to share, on a 50/50 basis, exploration costs and costs associated with the exercise of property options entered into by either party on behalf of the strategic alliance. In cases where one of the Joint Venture Parties enters into an option agreement that requires shares to be issued to a third party optionor the other Joint Venture Party will contribute its 50% of the costs by reimbursing the first company for 50% of the option payments. Where common shares are required to be issued as part of the option payments in order to ensure that the costs are equally divided the monetary value of such shares will be calculated and the Joint Venture Party that did not enter into the option agreement will issue such number of shares to the Joint Venture Party that did enter into the option agreement that have a monetary value equal to 50% of the value of the shares issued by the Joint Venture Party that has entered into the option agreement.Sokoman and Benton have on behalf of the strategic alliance, each entered into two property option agreements that have previously been announced that are being contributed to the strategic alliance and governed by the Participation Agreements. The Participation Agreements simply formalize and clarify what cash payments and share issuances are required to be made by the Joint Venture Party that did not directly enter into a particular option agreement in order to reimburse the Joint Venture Party that did enter into the option agreement.Benton Participation AgreementSokoman entered into an option agreement that provides it with the right to acquire a 100...

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