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Bonterra Resources increases placing to $21.8 million

Sprott Capital Partners is acting as lead agent on the financing
Bonterra Resources increases placing to $21.8 million
Bonterra workers

Bonterra Resources (CVE:BTR, OTCQX:BONXF) revealed it has increased its previously announced financing to $21.8 million from $20 million previously.

Sprott Capital Partners is acting as lead agent on the financing. As reported, before closing the offering, Bonterra will consolidate its shares on the basis of 10:1, namely ten existing shares for one new share.

READ: Bonterra Resources set for $20mln placing and share consolidation

When completed, the company is expected to have around 39.7 million shares outstanding.

The placing will now consist of up to 3,443,500 shares issued on a flow-through basis  (FT shares) at $3.80 each, and up to 2,646,000 shares issued on a non-flow-through basis (NFT shares) at $3.30 each.

The offering is currently expected to close on November 8 this year or such other date or dates as the company and the lead agent may agree.

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