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Bonterra raising C$12.9M via bought-deal financing


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Bonterra raising C$12.9M via bought-deal financing

Bonterra Resources Inc. said June 9 that it entered an agreement with Sprott Capital Partners to act as lead underwriter for a bought-deal private placement to raise gross proceeds of C$12.9 million.

The offering consists of 11,905,000 flow-through common shares at 84 cents apiece and 5,820,000 common shares at 50 cents apiece, with closing scheduled for June 29.

Bonterra will use the flow-through proceeds for exploration, as required by Canadian law, with the remainder earmarked for general corporate and working capital purposes.

The company's main assets include the Gladiator gold project in Quebec and the Larder Lake gold project in Ontario.