Bonterra Looks To Raise $10.1 Million In Flow Through Financing

Bonterra Resources (TSXV: BTR) this morning announced that it will be conducting another financing. The firm is looking to raise gross proceeds of up to $10.1 million via a flow through financing.

The financing, which is being conducted on a best efforts basis, will see the company look to sell 6.9 million shares at a price of $1.47 per each. No warrant is being offered in connection with the financing.

Bonterra has also made available an over-allotment option, which could increase the overall financing by up to 15%.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

Funds from the financing are to be used for exploration expenses that are deemed “flow-through mining expenditures,” with no further details provided on specifically what is being conducted.

The financing follows a $13.0 million flow through offering conducted earlier this year at $1.44 per flow through share, which also saw a concurrent $2.0 million private placement conducted.

The latest round of financing is currently slated to close October 19.

Bonterra Resources last traded at $0.96 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.

Video Articles

This Copper Mine Costs 1/6 to Restart | SSR Mining X Roxmore

Why Cambria Hit Pause on Its Massive Copper-Gold Spinout

Can Gold Rescue Washington From Its Debt Trap? | Andy Schectman – Miles Franklin

Recommended

Mercado Minerals Lengthens El Triunfo Vein by 190 Metres, Readies 1,500-Metre Zamora Drill Program

Blue Jay Gold Signs Ocean Partners Deal to Ship Steller Stockpiles Through 2027

Related News

K92 Mining Releases Assays on 37 Drill Holes At Kainantu Gold Mine

K92 Mining (TSXV: KNT) this morning reported extensive assay results from its ongoing drilling at...

Wednesday, July 15, 2020, 08:49:50 AM

Gold Soars: Why Are Jr. Mining Stocks Left Behind?

In this interview at the Precious Metals Summit 2024, Marshall Koval, President & CEO and...

Sunday, September 15, 2024, 07:11:00 AM

Treasury Metals Hits 7.15 G/T Gold Over 15.0 Metres At Goliath Gold Complex

Treasury Metals (TSX: TML) this morning reported assay results from twelve drill holes. The results...

Thursday, February 11, 2021, 07:43:32 AM

Pakistan Government Looking to Borrow Citizens’ Gold in Effort to Boost Forex Reserves

The government of Pakistan is mulling borrowing gold from its citizens in exchange for a...

Monday, February 21, 2022, 01:45:00 PM

GMV Minerals Granted Option To Acquire 100% Ownership Of Claims For Mexican Hat Project

GMV Minerals (TSXV: GMV) has been granted an exclusive option to acquire the Mexican Hat...

Monday, December 14, 2020, 09:12:43 AM