Benjamin Hill Mining Corp. (CNSX:BNN) entered into a non-binding letter of intent to acquire a 20% stake in Aion Mining Corp. for CAD 1.1 million on November 15, 2023.

The consideration includes CAD 600,000 in cash and CAD 525,000 in common shares of the Company at a price per share equal to the closing of the share price of the Company on the closing date of the Proposed Transaction, subject to CSE policies. Completion of the transaction is subject to customary conditions and any other conditions agreed to by the parties in a definitive share purchase agreement including: receipt of all necessary approvals and consents on terms satisfactory to the parties, and completion of a due diligence investigation into Aion by the Company and its representatives. On December 14, 2023, Benjamin Hill signed a definitive agreement with Aion Mining Corp.

to complete the Company's acquisition of a 20% interest in Aion. In consideration, the Company will provide Aion with CAD 500,000 in cash on closing and 1,602,565 common shares of the Company. The terms of the LOI and the definitive agreement were reviewed and approved by a committee of the Company's independent directors.