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Bonterra Resources Announces Closing of $21.5 Million Private Placement
Bonterra Resources Announces Closing of $21.5 Million Private Placement Canada New...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"\n\n\n\nBonterra Resources Announces Closing of $21.5 Million Private Placement\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, Feb. 26, 2018\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, Feb. 26, 2018 /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 brokered private placement for gross proceeds of $21,495,000 (the \"Offering\"). Sprott Capital Partners acted as lead agent on behalf of a syndicate of agents which included INFOR Financial Inc., Red Cloud Klondike Strike Inc., Laurentian Bank Securities Inc. and PI Financial Corp. (collectively, the \"Agents\").\n\nPursuant to the Offering, Bonterra issued 13,300,000 common shares of the Company on a flow‑through basis (\"Super FT Shares\") at a price of $0.75 per Super FT Share and 19,200,000 common shares of the Company on a flow-through basis (\"National FT Shares\") at a price of $0.60 per National FT Share. Collectively the Super FT Shares and FT Shares are the \"Offered Securities\".\n\nThe gross proceeds from the issuance of the Offered Securities will be used for Canadian Exploration Expenses and will qualify as \"flow-through mining expenditures\", as defined in subsection 127(9) of the Income Tax Act (Canada). The Super FT Shares will also qualify for the two 10% enhancements under section 726.4.9 and section 726.4.17.1 of the Quebec Taxation Act, which will be renounced with an effective date no later than December 31, 2018 to the initial purchasers of the Offered Securities in an aggregate amount not less than the gross proceeds raised.\n\nIn connection with the Offering, the Agents received a cash fee in an amount equal to 6.0% of the gross proceeds of the Offering. As additional consideration, the Company granted to the Agents common share purchase warrants (the \...