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%.

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

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Western Copper and Gold Reports $2.3 Billion After Tax NPV For Casino Deposit

Western Copper and Gold Corporation (TSX: WRN) shared today the results of its preliminary economic...

Tuesday, June 22, 2021, 09:58:00 AM

Bank Of America Lowers Gold Price Target To $2000? – The Daily Dive feat John-Mark Staude

Returning to the Daily Dive today is that of John-Mark Staude of Riverside Resources (TSXV:...

Wednesday, December 16, 2020, 01:00:00 PM

Effects of Coronavirus Felt By Canadian, US Markets

The price of gold is trending higher today while the S&P 500 index is down...

Friday, January 24, 2020, 03:35:51 PM

Skeena Resources: Constructive Drill Results At Snip Gold Project

On May 20, Skeena Resources Limited (TSX: SKE) reported impressive assay results from its 2021...

Sunday, May 23, 2021, 09:00:00 AM

Freeman Gold Closes $3.0 Million Strategic Financing

Freeman Gold (CSE: FMAN) has closed its previously announced financing. The strategic funding saw gross...

Wednesday, September 8, 2021, 10:02:00 AM