Vancouver, BC – June 13, 2016: BonTerra Resources Inc. (TSX-V: BTR, FSE: 9BR1) (the “Company” or “BonTerra”) is pleased to announce that it has arranged, subject to TSX Venture Exchange acceptance, a private placement of up to 5,714,285 non flow-through units (the “NFT Units”) at a price of $0.35 per NFT Unit for total gross proceeds of up to $2,000,000 and up to 7,500,000 flow-through shares (the “FT Shares”) at a price of $0.40 per FT Share for total gross proceeds of up to $3,000,000.
Each NFT Unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share for a period of two years from the date of issue at a price of $0.50 per share.
Finders’ fees may be payable in whole or in part on the placements pursuant to the policies of the TSX Venture Exchange.
Proceeds will be used for qualified exploration expenditures on the Company’s gold projects in Quebec and Ontario and for general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc.
For additional information, please contact:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” that is based on Bonterra’’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.