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Bonterra Resources closes $21.8 million private placing

Bonterra issued over 3.4 million shares on a flow-through basis at a price of $3.80 per FT share and over 2.6 million shares on a non-flow-through basis
Bonterra Resources closes $21.8 million private placing
Bonterra workers

Bonterra Resources (CVE:BTR, OTCQX:BONXF) has closed its previously announced placing for gross proceeds of around $21.8 million

Bonterra issued over 3.4 million shares on a flow-through basis at a price of $3.80 per FT share and over 2.6 million shares on a non-flow-through basis (NFT shares) at a price of $3.30 per NFT share.

READ: Bonterra Resources to speed up development of mining deposits and Urban Barry Mill

Sprott Capital Partners acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., Red Cloud Klondike Strike Inc, Canaccord Genuity Corp. and Haywood Securities Inc.

The gross proceeds from the issuance the FT Shares will be used for Canadian exploration expenses and will qualify as "flow-through mining expenditures", the firm said.

Bonterra also today announced a non-brokered private placing of FT Shares and non-FT shares on the same terms as the offering to raise proceeds of up to $500,000.

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