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Bonterra Resources closes C$5M private placement

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Bonterra Resources closes C$5M private placement

BonterraResources Inc. said July 7 that it has a nonbrokered private placementfor gross proceeds of approximately C$5.0 million.

Under the private placement, the company issued 7,575,000flow-through shares at 40 Canadian cents per share, for approximately C$3.0million; and 5,791,343 non-flow-through units at 35 cents per unit, forapproximately C$2.0 million.

The company plans to use the proceeds for general workingcapital and to further explore its Gladiator and Larder gold projects in Canada.