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Kirkland Lake Gold increases stake in Bonterra Resources to 11.32%

Kirkland Lake Gold Ltd. increased its stake in Bonterra Resources Inc. to 11.32% from 10.17% on a nondiluted basis through a C$5 million private placement.

The company acquired 2 million units of Bonterra at C$2.50 per unit, each of which comprises of 1 share and half of a share purchase warrant. Each warrant entitles Kirkland to acquire 1 Bonterra share at C$3.10 until Aug. 20, 2021.