Business
Bonterra Announces $3M to $5M Brokered Private Placement
Val-d'Or, Quebec--(Newsfile Corp. - September 11, 2023) - Bonterra Resources Inc. (TSXV: BTR) (O...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"Bonterra Announces $3M to $5M Brokered Private PlacementVal-d'Or, Quebec--(Newsfile Corp. - September 11, 2023) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (\"Bonterra\" or the \"Company\") is pleased to announce that it has entered into an agreement with Cormark Securities Inc. to act as sole agent (the \"Agent\") in connection with a \"best efforts\" private placement of a minimum of 17,647,100 units of the Company (\"Units\") and a maximum of 29,411,764 Units at a price of $0.17 per Unit (the \"Issue Price\") for minimum gross proceeds of $3,000,007 and maximum gross proceeds of $5,000,000, pursuant to the listed issuer financing exemption available under National Instrument 45-106 - Prospectus Exemptions (the \"LIFE Offering\") or the \"accredited investor\" exemption under National Instrument 45-106 - Prospectus Exemptions (the \"Private Placement Offering\" and together with the LIFE Offering, the \"Offering\"). Each Unit will consist of one common share of the Company (a \"Share\") and one half of one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.24 for a period of two years from the date of issuance. There is an offering document relating to the LIFE Offering (the \"Offering Document\") that can be accessed under the Company's profile at www.sedarplus.ca and www.btrgold.com. Prospective investors in the LIFE Offering should read the Offering Document before making an investment decision.The Company has agreed to pay the Agent a cash commission equal to 6.0% of the gross proceeds of the Offering, with such fee being reduced to a cash commission equal to 2% with respect to subscriptions made by persons delivered to the Agent by the Company (the \"President's List\"). The Company will also issue to the Agent non-transferable broker warrants equal to 6.0% of the aggregate number of Units issued by the Company under the Offerings, each of which will entitle the holder thereof to acquire one Share at $0.24 for a period of two (2) years from the date of issuance. The Offerings may be completed in one or more closings with the first closing currently scheduled for on or around September 21, 2023 (the \"Closing Date\"). Closing of the Offerings is subject to certain customary conditions including ...