Benz Mining Corp. has successfully completed its previously announced private placement, issuing 40,431,267 new fully paid CHESS Depositary Interests at an issue price of A$3.71 per CDI to raise gross proceeds of A$150 million (C$148,020,000).

Each CDI represents one underlying common share on a one-for-one basis. The financing remains subject to final approval from the TSX Venture Exchange, and the newly issued securities carry a statutory hold period in Canada of four months and one day from the date of issuance. Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited acted as Joint Lead Managers for the offering, receiving a combined commission equal to 4% of gross proceeds totaling A$6 million (plus GST), of which they will pay A$300,000 to Shaw and Partners for services rendered.

Proceeds from the financing will fund an aggressive acceleration of the planned 450,000-metre drill program at the Glenburgh project in Western Australia. Benz Mining will add six drill rigs to the site, bringing the active on-site fleet to 14 rigs operating across 20 shifts. The expanded campaign ranks among the largest gold exploration drilling efforts underway in Australia and globally by scale.

The expanded rig fleet will focus on rapid infill drilling to support the preparation of Benz Mining's maiden Mineral Resource Estimate, which is targeted for the first half of 2027, alongside ongoing resource growth and extension drilling across the broader Glenburgh system. In parallel with the drilling program, placement proceeds will advance geological modelling, assay analysis, interpretation, and technical studies to support the commencement of feasibility studies into fiscal 2027. Funds will also cover field activities and permitting, including drill access preparation, heritage clearances, environmental approvals, and general working capital and corporate requirements.

Read the full announcement: Benz Announces Closing of A$150M Placement