Business
Bonterra Resources Announces Update and Increase in Private Placement to $21.8 million
Bonterra Resources Announces Update and Increase in Private Placement to $21.8 million ...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"\n\n\n\nBonterra Resources Announces Update and Increase in Private Placement to $21.8 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, Oct. 24, 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, Oct. 24, 2018 /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 agent (the \"Lead Agent\"), on its own behalf and, on behalf of a syndicate of agents (collectively with the Lead Agent, the \"Agents\"), and has agreed to increase the private placement to raise gross proceeds of up to $21,817,100 (the \"Offering\").\nAs per the previous press release issued on October 15th, 2018, the Company will consolidate its outstanding common shares on the basis of ten (10) existing common shares for one (1) new common share (the \"Consolidation\") prior to closing of this Offering. Upon completion of the Consolidation and prior to closing of the Offering, the Company is expected to have 39,749,870 issued and outstanding common shares. No fractional shares will be issued. In addition, there will be no change in the Company's name or trading symbol. All securities issued under the Offering will be, and all prices in this release are, on a post-Consolidation basis.\nThe Offering will now consist of a combination of (a) up to 3,443,500 common shares of the Company issued on a flow-through basis (the \"FT Shares\") at a price of $3.80 per FT Share, and (b) up to 2,646,000 common shares of the Company issued on a non-flow-through basis (the \"NFT Shares\") at a price of $3.30 per NFT Share.  Collectively the FT Shares and NFT Shares are referred to as the \"Offered Securities\". \nIn connection with the Offering, the Agents will be entitled to a cash fee in an amount equal to 6% of the gross proceeds of the ...