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Bonterra Energy Corp. Announces Increase to Previously Announced Brokered Private Placement Debt Financing
Bonterra Energy Corp. Announces Increase to Previously Announced Brokered Private Placeme...
About this update from Bonterra Energy Corp.
[{"type":"text","content":"\n \n \n \n Bonterra Energy Corp. Announces Increase to Previously Announced Brokered Private Placement Debt Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./\n \n \n \n \n CALGARY, AB\n \n ,\n \n Oct. 21, 2021\n \n /CNW/ - Bonterra Energy Corp. (\n \n www.bonterraenergy.com\n \n ) (TSX: BNE) (\"\n \n Bonterra\n \n \" or the \"\n \n Company\n \n \") is pleased to announce an increase to its previously announced\n \n $5 million\n \n follow on brokered private placement debt financing (the \"\n \n Follow On Offering\n \n \") to an aggregate of\n \n $7.5 million\n \n of units (the\n \n \"Units\"\n \n ). Each Unit will be comprised of one senior unsecured debenture with a face value of\n \n $1,000\n \n (each a \"\n \n Debenture\n \n \") which will bear interest at 9.0% per annum and have a four-year term plus 56 common share purchase warrants (the \"\n \n Warrants\n \n \"), with each Warrant exercisable to acquire one common share (a \"\n \n Common Share\n \n \") of Bonterra at a price of\n \n $7.75\n \n per Common Share for a period of four years from\n \n October 20, 2021\n \n .\n \n \n Paradigm Capital Inc. and Peters & Co. Limited are acting as co-lead agents on the Follow-On Offering.\n \n \n The Company intends to use the net proceeds of the Follow On Offering primarily to pay down existing bank debt and for general corporate purposes.\n \n \n The Units issuable pursuant to the Follow On Offering will be offered by way of private placement exemptions from the prospectus requirements under National Instrument 45-106 – Prospectus Exemptions in each of the provinces in\n \n Canada\n \n and in\n \n the United States\n \n pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in accordance with applicable laws and subject to applicable regulatory hold periods.\n \n \n \n About Bonterra\n \n \n \n Bonterra Energy Corp. i...