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Bonterra Resources Announces Closing of $21.8 Million Private Placement
Bonterra Resources Announces Closing of $21.8 Million Private Placement Canada New...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"\n\n\n\nBonterra Resources Announces Closing of $21.8 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, Nov. 8, 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 VANCOUVER, Nov. 8, 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 $21,817,100 (the \"Offering\").\n\n \n \n\n \nSprott Capital Partners acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., Red Cloud Klondike Strike Inc., Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the \"Agents\").\nPursuant to the Offering, Bonterra issued 3,443,500 common shares of the Company on a flow-through basis (\"FT Shares\") at a price of $3.80 per FT Share and 2,646,000 common shares of the Company on a non-flow-through basis (\"NFT Shares\") at a price of $3.30 per NFT Share. \nThe gross proceeds from the issuance of the FT Shares will be used for Canadian Exploration Expenses and will qualify as \"flow-through mining expenditures\" (the \"Qualifying Expenditures\"), as defined in subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date no later than December 31, 2018 to the initial purchasers of the FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares, as applicable, and, if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed. The net proceeds from the NFT Shares will be used for on-going exploration and development work on the Company properties and for...