Bonterra Congratulates Osisko Mining on C$2.16 Billion Friendly Takeover by Gold Fields
Bonterra Congratulates Osisko Mining on
C$2.16 Billion Friendly Takeover by Gold
Fields
Val-d'Or, Quebec--(Newsfile Corp. - August 12, 2024) -
Bonterra Resources Inc. (TSXV: BTR)
(OTCQX: BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") congratulates Osisko Mining Inc.
("
Osisko Mining
") on their recent announcement that it has entered into a definitive arrangement
agreement dated August 12, 2024 (the "
Arrangement Agreement
") pursuant to which Gold Fields
Limited, through a 100% owned Canadian subsidiary ("
Gold Fields
"), has agreed to acquire all of the
issued and outstanding common shares of Osisko (the "
Shares
") at a price of C$4.90 per Share (the
"
Consideration
"), in an all-cash transaction valued at approximately C$2.16 billion on a fully diluted
basis (the "
Transaction
").
The Consideration represents an approximate 55% premium to the 20-day volume weighted average
trading price per Share on the Toronto Stock Exchange for the period ending August 9, 2024, being the
last trading day prior to the announcement of the Transaction.
Marc André Pelletier, President and CEO commented: "We extend a well-deserved congratulations to
our neighbors and joint venture partners, Osisko Mining, on this important milestone. The significant
premium paid by Gold Fields underscores the value of the Windfall gold project and its highly
prospective exploration camp. We are confident that this transaction will further drive growth and
development in the region. We look forward to continuing the joint venture with our new partner Gold
Fields and to the shared success that lies ahead."
About Bonterra Resources Inc.
Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets
anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator,
Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and
Indicated categories and 1.78 million ounces in the Inferred category.
In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining
Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. Over the next three
years, Osisko can earn a 70% interest by incurring $30 million in work expenditures. This strategic
transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant
step towards development.
FOR ADDITIONAL INFORMATION
Marc-André Pelletier, President & CEO
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-279-9304 | 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.
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. All statements other than statements of historical fact may be
forward-looking statements or information. Forward-looking statements are frequently identified by
such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. The forward-looking statements and information are based on
certain key expectations and assumptions made by management of the Company. Although
management of the Company believes that the expectations and assumptions on which such forward-
looking statements and information are based are reasonable, undue reliance should not be placed
on the forward-looking statements and information since no assurance can be given that they will
prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information
about the current expectations and plans of management of the Company relating to the future.
Readers are cautioned that reliance on such statements and information may not be appropriate for
other purposes, such as making investment decisions. Actual results could differ materially from
those currently anticipated due to a number of factors and risks, including the ability and timing of the
parties to complete the Joint Venture (if at all), whether the work expenditures would be incurred as
contemplated in the Agreement (or at all), the speculative nature of mineral exploration and
development, fluctuating commodity prices, competitive risks and the availability of financing, as
described in more detail in the Company's recent securities filings available at www.sedarplus.ca.
Accordingly, readers should not place undue reliance on the forward-looking statements and
information contained in this news release. Readers are cautioned that the foregoing list of factors is
not exhaustive. The forward-looking statements and information contained in this news release are
made as of the date hereof and no undertaking is given to update publicly or revise any forward-
looking statements or information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws. The forward-looking statements or information
contained in this news release are expressly qualified by this cautionary statement.
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https://www.newsfilecorp.com/release/219650