VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 28, 2017) - Benz Mining Corp. ("Benz" or the "Company") (NEX:BZ.H) announces that it has received approval from the NEX board of the TSX Venture Exchange ("Exchange") for the debt settlement with certain creditors to settle debts owing in the amount of $257,000 by the issuance of 1,352,632 common shares (the "Common Shares") at a price of $0.19 per Common Share (the "Debt Settlement"). The Common Shares issued upon the Debt Settlement will be subject to a hold period of four months and one day from issuance.
After giving effect to the Debt Settlement the Company will have an aggregate of 7,827,402 Shares issued and outstanding.
The Company also confirms it granted an aggregate of 534,000 incentive stock options on March 9, 2017 to certain directors, officers and consultants of Benz at an exercise price of $0.19 per Common Share for a period of ten years. Such options have been granted pursuant to the Company's 10% rolling stock option plan and are in accordance with policies within the Exchange.
On behalf of the Board of Directors of Benz Mining Corp.
Miloje Vicentijevic, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.
