Proactive Investors - Run By Investors For Investors

Bonterra Resources closes $36.7M private placement for exploration

The company will use the proceeds from the offering to fund exploration work on its portfolio of projects in Canada
Canadian dollars fanned on table
Bonterra's shares climbed higher after the closing of private placement

Bonterra Resources Inc (CVE:BTR) announced Monday that it has closed a $36.7 million private placement for exploration work on its portfolio of projects in Canada.

As part of the offering, the junior gold miner issued 14,359,000 common shares in the company at $1.95 per share as well as an additional 3,273,800 shares on a flow-through basis at $2.67 per share.

Shares of Bonterra were up 1% to reach $2 in Canadian trading.

READ: Bonterra Resources set to raise up to $30 million

Flow-through shares are a unique financing vehicle for junior resource companies in Canada, allowing investors to receive tax incentives.

Proceeds from Bonterra’s flow-through shares will be used for exploration, in accordance with the Income Tax Act (Canada). 

Bonterra has a number of exploration and mining assets including the Gladiator, Barry and Moroy deposits in Quebec, as well as the only permitted gold mill in the surrounding region.

--Contact Angela Harmantas at [email protected]

--Follow her on Twitter @AHarmantas

View full BTR profile View Profile

Bonterra Resources Timeline

Related Articles

zeolite mine
September 14 2018
Zeolite may not be the most well-known mineral but it has wide applications, such as use in animal feed, as a pozzolan in cement and as an additive to soil, which could be used for cannabis plants
April 24 2019
Scotgold will pour its first gold at Cononish before the year end
March 14 2019
Caledonia is taking a short-term hit, but there are grounds for cautious optimism longer-term

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use