Bonterra Announces Closing of $17.5 million Private Placement
2872 Sullivan Rd Suite 2
Val‐d’Or, Quebec
Office: (819) 825‐8678
Bonterra Announces Closing of $17.5 million Private Placement
Val-d’Or, QC – April 7, 2021 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF,
FSE: 9BR2) ( “Bonterra” or the “ Company”) is pleased to announce that it has closed the
brokered private placement previously announced on March 15, 20 21 for gross proceeds of
$17,472,300 (the “Offering”).
Pursuant to the Offering, B onterra issued (a) 2,350,000 common shares of the Company (the
“Common Shares”) at a price of $1.05 per Common Share for gross proceeds of $2,467,500, and
(b) 10,420,000 common shares of the Company that qualify as “fl ow-through shares” (within the
meaning of subsection 66(15) of the Income Tax Act (Canada) (the “ FT Shares”) at a price of
$1.44 per FT Share for gross proceeds of $15,004,800.
Cormark Securities Inc. acted as lead agent on behalf of a synd icate of agents which included
INFOR Financial Inc. (collectively, the “ Agents”). In connection with the Offering, the Agents
received a cash fee in an amount equal to 6% of the gross proce eds of the FT Shares and 2% of
the gross proceeds of the Common Shares.
The gross proceeds from the sale of the FT Shares will be used to incur eligible “Canadian
exploration expenses” that will qualify as “flow-through mining expenditures”, as both terms are
defined in the Income Tax Act (Canada), which will be incurred on or before December 31, 202 2
and renounced to the subscribers of the FT Shares with an effec tive date no later than December
31, 2021 in an aggregate amount not less than the gross proceed s raised from the sale of the FT
Shares. The net proceeds from the issuance of the Common Share s will be used to complete the
Preliminary Economic Assessment (“ PEA”) on Bonterra’s Moroy, Gladiator and Barry projects
and for general working capital purposes.
The Common Shares and FT Shares issued in the Offering are subj ect to a statutory hold period
expiring on August 8, 2021. The Offering remains subject to final acceptance by the TSX Venture
Exchange.
About Bonterra Resources Inc.
Bonterra is a Canadian gold exploration company with a large po rtfolio of advanced exploration
assets anchored by a central milling facility in Quebec, Canada . The Company has three main
assets, Gladiator, Barry, and Moroy, that collectively have a t otal of 698 thousand ounces in
measured & indicated categories, and 1.4 million ounces in infe rred category. Approximately
130,000 metres of drilling will be used to update this resource shortly. Importantly, the Company
owns the only permitted and operational gold mill in the region that is currently two-thirds the way
through the permitting process to expand from 800 to 2,400 tonn es-per-day. Bonterra is focused
on graduating from advanced exploration to a development company over the next 18-months to
deliver shareholder value.
FOR ADDITIONAL INFORMATION:
Pascal Hamelin, President and Chief Executive Officer
Email: [email protected]
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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.
Cautionary and Forward-Looking Statements
This news release includes certain forward-looking statements c oncerning the use of proceeds of the Offering, the
future performance of our business, its operations and its fina ncial performance and condition, as well as
management’s objectives, strategies, beliefs and intentions. Fo rward-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. Forward-looking statements are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and sub ject to a variety of assumptions, risks and
uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices,
the future tax treatment of the FT Shares, use of proceeds of t he Offering, competitive risks and the availability of
financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or
results may differ materially from those projected in the forwa rd-looking statements and we caution against placing
undue reliance thereon. We assume no obligation to revise or up date these forward-looking statements except as
required by applicable law.