Bonterra Announces Repayment of C$5 Million Credit Facility
Bonterra Announces Repayment of C$5 Million
Credit Facility
Val-d'Or, Quebec--(Newsfile Corp. - September 2, 2026) -
Bonterra Resources Inc. (TSXV: BTR)
(OTCQX: BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") is pleased to announce that it has
fully repaid a non-revolving credit facility in the principal amount of C$5,000,000 (the "
Credit Facility
")
originally advanced under a credit agreement dated March 23, 2026 (the "
Credit Agreement
") with
Wexford Capital LP ("
Wexford Capital
"), a Delaware limited partnership and an insider of the
Company, as agent (the "
Agent
"), and certain affiliates of Wexford Capital as lenders (the "
Lenders
").
The full principal amount of C$5,000,000 was made available to the Company by way of a single
advance. Pursuant to the terms of the Credit Agreement, the Credit Facility bore interest at a rate per
annum equal to 8.00% plus the Secured Overnight Financing Rate term rate applicable to the six-month
period commencing on the closing date and ending on the maturity date of September 23, 2026 (the
"
Maturity Date
"). Together with the principal amount of the Credit Facility, accrued interest, and the
payment of the Commitment Fee (as defined herein), the Company paid an aggregate total of
C$5,361,469.86.
As described under the Company's news release dated March 23, 2026, interest accrued under the
Credit Facility was payable in arrears on the date that is six months from the closing date and, at the
Agent's option, may be paid in cash or in common shares of the Company ("
Share
s"). The accrued
interest was fully repaid in cash, and no Shares were issued pursuant to the repayment of the Credit
Facility.
In consideration of the Lenders arranging and establishing the Credit Facility and the Agent agreeing to
act as agent, the Company paid to the Agent a commitment fee of C$100,000 (the "
Commitment
Fee
"). The Agent had the option to have the Commitment Fee paid in cash or in Shares and elected to
have the fee paid in cash.
The proceeds under the Credit Facility were used by the Company for the purposes of: (i) indemnifying
or reimbursing its shareholders who participated in the flow-through private placements completed on
December 13, 2019 and October 21, 2021, for taxes imposed prior to the closing date in connection
with flow-through share offerings of the Company; and (ii) funding eligible exploration and development
expenditures on the Desmaraisville property required to satisfy the Company's renunciation
commitments under applicable flow-through share subscription agreements. The Company repaid the
Credit Facility through funds raised in the Company's rights offering (as previously disclosed in the
Company's news release dated August 31, 2026).
FOR ADDITIONAL INFORMATION
Cesar Gonzalez, Executive Chairman & Interim CEO
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-825-8678 | Website:
www.btrgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/312567