Bonterra Resources Announces Non-Brokered Private Placement Financing
Vancouver, BC – December 8, 2015: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF) (the “Company”) announces that it has arranged a non-brokered private placement (the “Private Placement”) of up to $2,750,000 in flow-though shares (each a “FT Share”) at a price of $0.22 per FT Share and up to $450,000 in non-flow-through units (each a “NFT Unit”) at a price of $0.20 per NFT Unit.
Each NFT Unit will consist of one common share of the Company and one-half of one transferable share purchase warrant. Each whole Warrant (a “Warrant”) shall be exercisable to acquire one additional common share of the Company (a “Warrant Share”) for a period of two years at a price of $0.30 per Warrant Share.
It is anticipated that Oban Mining Corp. shall participate in the financing.
The Company intends to use the proceeds from the Private Placement to conduct further exploration on its Gladiator Project and for general working capital. The Private Placement is subject to acceptance by the TSX Venture Exchange. All the securities issued under the Private Placement are subject to resale restrictions under applicable securities legislation.
About BonTerra Resources
BonTerra is a debt-free, Canadian gold exploration company based in Vancouver, BC, with just over approximately 36 million shares outstanding. The Company continues to expand its inferred gold resource (calculated in accordance with NI 43-101 standards) on its West Arena Property, part of the world famous Abitibi Greenstone Belt in mining-friendly Quebec. BonTerra’s Gladiator Project is in the Urban-Barry Greenstone Belt and is comprised of three properties: West Arena, East Arena, and Coliseum Properties. The Gladiator Project is located approximately 170 km northeast of Val-d’Or in the Urban, Barry and Bailly townships in Québec, south of the Windfall Lake gold deposit, and southeast of the Bachelor and Barry gold deposits.
For further information, please contact Nav Dhaliwal, President, at email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nav Dhaliwal, President
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.