BonTerra Resources Closes $254,000 Hard-Dollar Private Placement
Vancouver, BC – January 20, 2016: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF) (the “Company” or “BonTerra”) is pleased to announce that the Company has closed a non-brokered private placement financing (the “Private Placement”) for total gross proceeds of $254,000.
The Company has allotted and issued 1,270,000 common shares (the “Shares”) at a price of $0.20 per Share. No finder’s fees were paid in relation to the Private Placement.
The Company intends to use the proceeds from the Private Placement towards general working capital. All Shares issued under the Private Placement are subject to a four-month and one-day hold period expiring on May 21, 2016.
About BonTerra Resources
BonTerra is a debt-free, Canadian gold exploration company based in Vancouver, BC, with approximately 53 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
For additional information contact please contact:
Todd Hanas, Corporate Development
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.