BONXF - Bonterra to raise $25M in FT and common shares private placement

Bonterra Resources (OTCQX:BONXF) entered into an agreement wherein Cormark Securities for private placement of 7.3M shares that qualify as "flow-through shares" at $2.06/FT share for gross proceeds of $15M and 8.27M shares at $1.21/HD share for gross proceeds of $10M for gross proceeds of ~$25M. The agents will have option exercisable in whole or partially up to 48 hours prior to offer closing to offer for sale up to an additional 2.33M shares. The net proceeds from the issue of the HD Shares will be used for working capital and general corporate purposes. The offering is expected to close on or about Mar.10.

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Bonterra to raise $25M in FT and common shares private placement