Bonterra Announces Closing of Non-Brokered Private Placement with the Mineralfields Group
BONTERRA RESOURCES INC.
Suite 1130 – 789 West Pender Street Vancouver, BC, V6C 1H2 Telephone: (604) 669-9330
NEWS RELEASE
TSX.V SYMBOL – BTR
BONTERRA ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT WITH THE MINERALFIELDS GROUP
Vancouver, BC – July 28, 2010: BonTerra Resources Inc. (TSX-V: BTR) (the “Company”) is pleased to announce in furtherance to its news release dated July 23, 2010, it has completed the closing of the non-brokered private placement (the “Offering”) of 5,000,000 flow through units of the Company (the “FT Units”) at $0.10 per FT Unit to the MineralFields Group. Each FT Unit consists of one (1) common share in the capital of the Company (each, a “Common Share”) issued on a flow-through basis and one (1) common share purchase warrant (each, a “Warrant”) entitlting the holder to acquire one (1) additional Common Share at an exercise price of $0.17 per Common Share for a period of two (2) years from the closing date.
The Company paid Limited Market Dealer Inc. (“LMD”) $25,000 as cash finder’s fee, and granted LMD 500,000 options (the “Options”). Each Option entitles LMD to purchase one unit of the Company at a price of $0.10 per unit for a period of two years with each such unit consisting of one (1) Common Share and one (1) non-transferable common share purchase warrant. Each such warrant entitles the holder to purchase one (1) Common Share at a price of $0.17 per share for a period of two (2) years from the closing date.
All of the securities issued by the Company in connection with the Offering are subject to a hold period, which expires four months and a day after the closing date.
“We are very pleased to be entering into this relationship with the MineralFields Group”, said Mitch Adam, President and Director of the Company. “This is an important milestone in the growth of BonTerra Resources Inc. and we look forward to working with MineralFields Group as we develop our Quebec properties.”
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam Mitchell Adam President, Director
For further information contact:
Mitchell Adam [email protected] www.bonterraresources.com Tel: (604) 669-9330
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