Bonterra Closes Upsized $11.7 Million Flow-Through Financing

Bonterra Resources (TSXV: BTR) announced on Thursday that it has closed its previously announced private placement. The offering raised $11.7 million, up from the target of $10.1 million disclosed when the financing was announced.

Through the offering, the company sold 7.9 million flow-through shares, an upsize from 6.9 million shares during the announcement. The shares were sold at a price of $1.47 per each.

The offering was made with a syndicate of agents led by Cormark Securities Inc. The company also relayed previously that funds from the flow-through financing are to be used for “flow-through mining expenditures” under Income Tax and Taxation Acts but no further specific details were provided.

Bonterra Resources last traded at $1.06 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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