Benton to Spin Out Assets to Shareholders

Benton Resources Corp. (TSXV:BTC) reports it is initiating a process of separating its investment in Coro Mining Corp. from substantially all of its other assets and activities.

The press release is quoted as saying,

It is anticipated that this will be implemented by a spin out of the majority of Benton’s projects, cash and equity investments (other than Coro) into a new exploration company (“Newco”). After the spin out is completed Benton’s assets will consist of 55.4 million common shares of Coro (representing approximately 41.6% of the issued capital of Coro), 2.43 million share purchase warrants of Coro exercisable at $0.50, one 43-101 compliant project and a cash balance in a yet to be determined amount sufficient to maintain ongoing operations and objectives. Benton’s ongoing exploration activities will thereafter be carried out through Newco.

For the complete press release, click here.