Business
Benton Announces Normal Course Issuer Bid
Benton Announces Normal Course Issuer Bid
About this update from Silver Valley Metals Corp
[{"type":"text","content":"Benton Announces Normal Course Issuer Bid\n\n\n\nBenton Announces Normal Course Issuer Bid\n\nThunder Bay, Ontario and Vancouver, British Columbia CANADA, August 25, 2008 /FSC/ - Benton Resources Corp. (BTC - TSX Venture, BNRJF - OTCBB_Pink_Sheets), (\"Benton\" or the \"Company\") announces that it intends to make a normal course issuer bid (the \"Bid\"), to purchase, through the facilities of the TSX Venture Exchange (the \"Exchange\"), certain of its outstanding common shares. \n\nThe number of common shares intended to be purchased through the facilities of the Exchange during the period of the Bid from August 26, 2008 to August 26, 2009 will not exceed 3,000,000 common shares, or approximately 4.3% of the total of 69,444,281 common shares outstanding. The actual number of shares that may be purchased and the timing of any such purchases will be determined by Benton. \n\nPurchases pursuant to the Bid will be conducted through RBC Dominion Securities Inc. as to the first one million shares and through Thomas Weisel Partners Canada Inc. as to the remaining two million shares and the price that Benton will pay for the shares will be the market price at the time of the purchase. All shares purchased under the Bid will be cancelled. \n\nThe Board of Benton believes that recent market prices of the Company's shares do not properly reflect the underlying value of the Company. With the Company's exploration results to date, the various joint ventures that the Company has entered into and a treasury of approximately $20 million the Board believes that the Bid is in the best interest of the shareholders. The Bid will provide some liquidity for those shareholders who wish to dispose of their shares and enhance the potential future value of the shares which remain outstanding. \n\nThe proposed Bid remains subject to the prior acceptance of the Exchange. Following acceptance by the Exchange, shareholders may obtain a copy of the completed Bid notice, without charge, by contacting the Company. \n\n\nOn behalf of the Board of Directors of Benton Resources Corp.\n\n\"Stephen Stares\"\nStephen Stares, President\n\n\nTHE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\nForward...