BonTerra Closes Financing
Vancouver, BC – August 19, 2016: BonTerra Resources Inc. (TSX-V: BTR, FSE: 9BR1) (the “Company” or “BonTerra”) is pleased to announce that it closed a private placement in the amount of 4,173,572 non flow-through units (the “NFT Units”) at a price of $0.35 per NFT Unit for total gross proceeds of $1,460,750 and 775,000 flow-through shares (the “FT Shares”) at a price of $0.40 per FT Share for total gross proceeds of $310,000.
Each NFT Unit consists of one common share and one non-transferable share purchase warrant, each warrant exercisable into one additional common share until August 19, 2018, at a price of $0.50 per share.
The Company paid $66,900 in cash and issued 126,000 warrants (“Finder`s Warrants”) to finders in respect of the placement. Each Finder`s Warrant is exercisable into one common share of the Company at a price of $0.35 per share until August 19, 2018.
Proceeds will be used for qualified exploration expenditures on the Company’s gold projects in Quebec and Ontario and for general working capital.
All securities issued under the placement will be subject to statutory hold periods expiring on December 20, 2016.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc.
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Neither 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 adequacy or accuracy of this release.
This press release contains "forward-looking information" that is based on Bonterra’’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra’s exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.