Thunder Bay, Ontario--(Newsfile Corp. - December 1, 2023) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it has been notified by Renegade Gold Inc. (TSXV: RAGE) ("Renegade") that Renegade will issue common shares to the Company in satisfaction of its obligation to make a cash payment of $300,000 pursuant to the terms of the Option Agreement (as defined below) whereby the Renegade had the right to acquire the remaining 30% interest (for a total interest of 100%) in the Panama Lake Property (see Renegade's news releases dated July 13, 2022 and November 4, 2022). Renegade intends to issue Benton a total of 769,230 common shares (the "Common Shares") at a deemed price of $0.39 per Common Share in lieu of paying $300,000, as payment for the Third Option as defined in an option agreement dated October 22, 2019 (the "Option Agreement") in respect of the Panama Lake Property. The issuance of Common Shares is subject to the receipt of all required approvals, including the approval of the TSX Venture Exchange. The Common Shares are subject to a statutory four month hold period. see & read more on
https://www.newsfilecorp.com/release/189474/Benton-To-Receive-300000-Share-Payment-From-Renegade-Gold-For-The-Panama-Lake-Gold-Project-In-The-Red-Lake-Mining-Camp