Bonterra Resources Raises CAD 325,000 through Private Placement
Val-d’Or, Quebec – Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (“Bonterra” or the “Company”), a mining exploration company, is thrilled to announce the successful completion of a non-brokered private placement (the “Offering”).
Under the terms of the Offering, Bonterra sold 1,625,000 units (each, a “Unit”) at a price of CAD 0.20 per Unit, generating gross proceeds of CAD 325,000 for the Company.
Details of the Private Placement
Each Unit consists of:
- One common share of Bonterra (“Share”); and
- One half of one common share purchase warrant (“Warrant”).
The Warrants will entitle the holders to purchase one additional Share at a price of CAD 0.30 for a period of 24 months from the closing date of the Offering.
Impact on Bonterra Resources
The proceeds from the Offering will be used to:
- Advance exploration activities at the Company’s properties;
- Meet general working capital requirements;
- Pay for transaction expenses related to the Offering.
With the successful closing of the Offering, Bonterra Resources is well-positioned to continue its exploration efforts and progress towards its goals. The Company remains committed to creating value for its shareholders through the discovery and development of high-quality mineral resources.
Global Implications
The mining industry, particularly exploration companies, often rely on private placements to secure funding for their operations. Bonterra Resources’ successful completion of the Offering is a positive sign for the sector, indicating investor confidence in the potential for mineral discoveries and the long-term viability of mining projects.
Moreover, the mining industry plays a crucial role in the global economy, contributing significantly to the production of essential raw materials such as metals and minerals. A strong mining sector can lead to economic growth, job creation, and technological advancements.
Conclusion
Bonterra Resources’ successful completion of the non-brokered private placement marks an important milestone for the Company. With the proceeds from the Offering, Bonterra is well-equipped to continue its exploration efforts and make strides towards its goals. The positive impact of this development extends beyond Bonterra, as it represents a vote of confidence in the mining sector and its potential for economic growth and innovation.
As a responsible and committed investor, I am encouraged by Bonterra’s progress and look forward to witnessing the Company’s continued growth and success in the mining industry.
