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Bonterra Announces Closing of $20 Million Bought Deal Financing
Bonterra Announces Closing of $20 Million Bought Deal Financing Canada NewsWire ...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"\n\n\n\nBonterra Announces Closing of $20 Million Bought Deal Financing\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\nCanada NewsWire\nVANCOUVER, June 30, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n\n\n\nVANCOUVER, June 30, 2017 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the \"Company\" or \"Bonterra\") is pleased to announce that it has closed its previously announced bought deal private placement for gross proceeds of $19,999,880 (the \"Offering\"). Sprott Capital Partners, a division of Sprott Private Wealth LP, acted as lead underwriter on behalf of a syndicate of underwriters which included INFOR Financial Inc. (collectively, the \"Underwriters\").\n\n\n \n \n\n \nPursuant to the Offering, Bonterra issued 17,857,000 flow-through common shares of the Company (\"Flow-Through Shares\") at a price of $0.84 per Flow-Through Share and 10,000,000 common shares of the Company (\"Common Shares\") at a price of $0.50 per Common Share. The gross proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur Canadian Exploration Expenses that are \"flow-through mining expenditures\" (as such terms are defined in the Income Tax Act (Canada)) on the Company's properties, which expenses will be renounced to the subscribers with an effective date no later than December 31, 2017, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of Flow-Through Shares. The net proceeds from the sale of the Common Shares will be used for general corporate and working capital purposes.\n\nIn connection with the Offering, the Underwriters received a cash fee in an amount equal to 6.0% of the gross proceeds of the Offering. All securities issued under the Offering will be subject to a four month hold period from the date of issue in accordance with applicable securities laws. The Offering is subject to ...