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Bonterra raises C$36.7M for exploration, working capital

Bonterra Resources Inc. said March 19 that it raised about C$36.7 million from a previously announced private placement to fund the exploration of its properties and for general working capital.

The offering comprised 14,359,000 shares at C$1.95 apiece and an additional 3,273,800 flow-through shares at C$2.67 each.

A syndicate of agents led by Sprott Capital Partners LP also exercised in full a 20% overallotment option as part of the placement.