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Bonterra Announces Increase in Bought Deal Financing to $20 Million
Bonterra Announces Increase in Bought Deal Financing to $20 Million Canada NewsWir...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"\n\n\n\nBonterra Announces Increase in Bought Deal Financing to $20 Million\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 19, 2017\n\n\n\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\n\n\nVANCOUVER, June 19, 2017 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the \"Company\" or \"Bonterra\") is pleased to announce that it has entered into an amended agreement with Sprott Capital Partners to act as lead underwriter (the \"Lead Underwriter\") and INFOR Financial Inc. (collectively, the \"Underwriters\"), and has agreed to increase the offering size of purchased securities from $12,910,200 to $19,999,880 in gross proceeds (the \"Offering\"). \n\n\n \n \n\n \nThe Offering will consist of a combination of (a) 17,857,000 flow-through common shares of the Company (\"Flow-Through Shares\") at a price of $0.84 per Flow-Through Share and (b) 10,000,000 common shares of the Company (\"Common Shares\") at a price of $0.50 per Common Share. \n\nIn connection with the Offering, the Underwriters will be entitled to a cash fee in an amount equal to 6.0% of the gross proceeds of the Offering, to be paid out of the non flow through portion of the Offering at closing. \n\nThe 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, and also qualify for the two 10% enhancements under section 726.4.9 and section 726.4.17.1 of the Quebec Taxation Act, 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...